Question
Suppose an investment account is opened with an initial deposit of $12,000 earning 6.4%interest compounded continuously. How much will the account be worth after30 years?
Suppose an investment account is opened with an initial deposit of $12,000
earning 6.4%interest compounded continuously.
How much will the account be worth after30 years?
Round your answers to two decimal places.
The account would be worth$$ after30 years.
How much less would the account be worth if it were compounded monthly instead?
The account would be worth$$ less if it were compounded monthly instead
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Probability and Random Processes With Applications to Signal Processing and Communications
Authors: Scott Miller, Donald Childers
2nd edition
123869811, 978-0121726515, 121726517, 978-0130200716, 978-0123869814
