If investment A has continuously compounded interest and an annual return of 2%, and Jane has $100 after 5 years, how much money will she have after 8 years? Round to the nearest dollar. O 106 O 115 O 120 O 140

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter4: Exponential And Logarithmic Functions
Section4.2: The Natural Exponential Function
Problem 2E
icon
Related questions
Question

Please explain how to solve, thank you!

If investment A has continuously compounded interest and an annual return of 2%, and Jane has $100 after 5 years, how much money
will she have after 8 years?
Round to the nearest dollar.
106
115
120
140
Transcribed Image Text:If investment A has continuously compounded interest and an annual return of 2%, and Jane has $100 after 5 years, how much money will she have after 8 years? Round to the nearest dollar. 106 115 120 140
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College