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For the following amount at the given interest rate compounded continuously, find (a) the future value after 5 years, (b) the effective rate, and
For the following amount at the given interest rate compounded continuously, find (a) the future value after 5 years, (b) the effective rate, and (c) the time to reach $13,000. $5700 at 3.1% a. The future value after 5 years is approximately $ 6655.65 (Do not round until the final answer. Then round to the nearest cent as needed.) b. The effective rate is 3.15 %. (Do not round until the final answer. Then round to two decimal places as needed.) c. The time to reach $13,000 from $5700 at 3.1% compounded continuously is years. (Do not round until the final answer. Then round to two decimal places as needed.))
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