Question
Please do not use Excel, show calculations with formulas where needed. Please feel free to ask me for more info; this is a TWO PART
Please do not use Excel, show calculations with formulas where needed. Please feel free to ask me for more info; this is a TWO PART question. Thanks!
2. Continuous compounding of interest is found as i=er-1 Where r-nominal rate per year, decimal
a. Suppose $1000 is invested into a continuously compounded 8% nominal interest account for 5 years. What is the future amount?
b. What if this same problem was an 8%/yr CM problem? What is the future amount?
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Finance And Modernization
Authors: Gerald D. Feldman, Peter Hertner
1st Edition
0754662713, 978-0754662716
