a. When Lisa was born, Lisa's grandpa invested a capital of € 1000 at a compound interest of 5% yearly. At Lisa's 18th birthday, she receives the value of the investment. What is the value of this capital at her 18th birthday?
a. When Lisa was born, Lisa's grandpa invested a capital of € 1000 at a compound interest of 5% yearly. At Lisa's 18th birthday, she receives the value of the investment. What is the value of this capital at her 18th birthday?
Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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