Assume that there are no deposits or withdrawals. An initial investment of $2,000 earns 7% interest, compounded continuously. What will the investment be worth in 18 years? (Round your answer to the nearest cent.) $

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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Assume that there are no deposits or withdrawals.
An initial investment of $2,000 earns 7% interest, compounded continuously. What will the investment be worth in 18 years? (Round your answer to the nearest cent.)
Transcribed Image Text:Assume that there are no deposits or withdrawals. An initial investment of $2,000 earns 7% interest, compounded continuously. What will the investment be worth in 18 years? (Round your answer to the nearest cent.)
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