parsonsemmagrace parsonsemmagrace

03-06-2024
Mathematics

Answered

Find the value of an investment of $20,000 for 14 years at an
annual interest rate of 3.85%
compounded continuously.

Answer :

jsimpson11000 jsimpson11000

03-06-2024

Answer:

Step-by-step explanation:

continuous compounding formula

FV = PV e^(it)

FV = 20 000 e^(.0385 * 14) = $34285.83

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