Consider an investment where $48,000 is invested for 15 years at 8% compounded continuously. (a) How much will this investment be worth after 15 years? (b) What is the total amount earned in compound interest? round to the nearest cent
Consider an investment where $48,000 is invested for 15 years at 8% compounded continuously. (a) How much will this investment be worth after 15 years? (b) What is the total amount earned in compound interest? round to the nearest cent
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 22T
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Consider an investment where $48,000 is invested for 15 years at 8% compounded continuously.
(a) How much will this investment be worth after 15 years?
(b) What is the total amount earned in compound interest?
round to the nearest cent
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