Find the future value of a $20, 000 annual income stream if it is invested immediately as it is received into an account paying 12 % interest compounded continuously for 15 years. Round your answer to the nearest cent. 3305.98

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section8.3: Geometric Sequences And Series
Problem 8ECP: An investor deposits $70 on the first day of each month in an account that pays 2 interest,...
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Find the future value of a $20, 000 annual income stream if it is invested immediately as it is received into an
account paying 12 % interest compounded continuously for 15 years. Round your answer to the nearest cent.
3305.98
Transcribed Image Text:Find the future value of a $20, 000 annual income stream if it is invested immediately as it is received into an account paying 12 % interest compounded continuously for 15 years. Round your answer to the nearest cent. 3305.98
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