6. If the ncminal interest rate is 3%, how much is $5000 worth in 10 years in a continuously compounded account?

Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter9: The Basic Tools Of Finance
Section: Chapter Questions
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6. If the nominal interest rate is 3%, how much is $5000 worth in 10 years in a continuously
compounded account?
Transcribed Image Text:6. If the nominal interest rate is 3%, how much is $5000 worth in 10 years in a continuously compounded account?
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