If $2000 is invested at 6% interest, find the amounts due to the nearest cent at the end of 4 years if the interest is compounded a. Monthly b. Continuously

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter10: Exponential And Logarithmic Functions
Section10.2: Evaluate And Graph Exponential Functions
Problem 10.32TI: Allan invested $10,000 in a mutual fund. If the interest rate is 5%, how much will be in the account...
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If $2000 is invested at 6% interest, find the amounts due to the nearest
cent at the end of 4 years if the interest is compounded
a. Monthly
b. Continuously
Transcribed Image Text:If $2000 is invested at 6% interest, find the amounts due to the nearest cent at the end of 4 years if the interest is compounded a. Monthly b. Continuously
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