Find the compound amount and the amount of interest earned by the following deposit. $5500 at 3.3% compounded continuously for 8 years. The future value after 8 years is approximately $. (Do not round until the final answer. Then round to the nearest cent as needed.) P

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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Find the compound amount and the amount of interest earned by the following deposit.
$5500 at 3.3% compounded continuously for 8 years.
The future value after 8 years is approximately $.
(Do not round until the final answer. Then round to the nearest cent as needed.)
Transcribed Image Text:Find the compound amount and the amount of interest earned by the following deposit. $5500 at 3.3% compounded continuously for 8 years. The future value after 8 years is approximately $. (Do not round until the final answer. Then round to the nearest cent as needed.)
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