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When Ricky is 22 years old, she begins steadily investing $200/month (K=$2400) for 10 years at 5% compounded continuously. 1. What is the investment worth
When Ricky is 22 years old, she begins steadily investing $200/month (K=$2400) for 10 years at 5% compounded continuously.
1. What is the investment worth at the end of 10 years (when she is 32 years old)?
2. Ricky stops monthly contributions and lets her investment grow for the next 40 years at 5% compounded continuously?
3. When she is 72, how much did her contributions grow? (hint: subtract 24000 from value at age 72)
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