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    Algebra: interest

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    1.Suppose $2000 is invested at an annual interest rate of 5%. Compute the balance after 10 years if the interest is compounded monthly.

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    https://brainmass.com/math/basic-algebra/exponential-logarithmic-functions-interests-291826

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    1. Suppose $2000 is invested at an annual interest rate of 5%. Compute the balance after 10 years if the interest is compounded monthly.

    A= 2,000(1+0,05/12)^12*10
    2,000(1.0041666)^120
    2,000*1,65
    3294.02

    2. Repeat problem 1, if the interest is compounded continuously.

    A= 2,000 e^.05*10
    2,000 e^.5
    3,292.42

    3. Solve for x: 5 = e5x
    Ln5 = 5x lne
    1.61 = 5x
    ...

    Solution Summary

    The expert finds the balance of an amount invested for ten years, when the interest is compounded monthly

    $2.49

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