man wished to have a p 40,000 in certain fund at the end of 8 years that will pay a nominal rate of 6 % compounded continuously. What is the value of compound amount factor for this rate?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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A man wished to have a p 40,000 in certain fund at the end of 8 years that will pay a nominal rate of 6 % compounded continuously. What is the value of compound amount factor for this rate?

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