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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