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find the value and interest earned if $8906.54 is invested for 9 years at 5% compunded a) semiannually b) continuously I tried A=Pe(rt) P=8906.54 r=5% t=9 but i keep getting a figure different from the book the book says $13,968.24 ; $5061.70 am

find the value and interest earned if $8906.54 is invested for 9 years at 5% compunded a) semiannually
b) continuously
I tried A=Pe(rt)
P=8906.54
r=5%
t=9
but i keep getting a figure different from the book
the book says $13,968.24 ; $5061.70 am I using the wrong formula?
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Answer #1
the (rt) is an exponent of e ... A=Pe^(rt)
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find the value and interest earned if $8906.54 is invested for 9 years at 5% compunded a) semiannually b) continuously I tried A=Pe(rt) P=8906.54 r=5% t=9 but i keep getting a figure different from the book the book says $13,968.24 ; $5061.70 am
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