Question
1.Assume that there are no deposits or withdrawals. An initial investment of $3,000 earns 3% interest, compounded continuously. What will the investment be worth in
1.Assume that there are no deposits or withdrawals.
An initial investment of $3,000 earns 3% interest, compounded continuously. What will the investment be worth in 17 years? (Round your answer to the nearest cent.)
2.Assume that there are no deposits or withdrawals.
An account now contains $3,630 and has been accumulating interest at 8% annual interest, compounded continuously. How much was in the account 6 years ago? (Round your answer to the nearest cent.)
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An Introduction to the Mathematics of Financial Derivatives
Authors: Ali Hirsa, Salih N. Neftci
3rd edition
012384682X, 978-0123846822
