Principal of 3000 OMR is invested for 4 years at rate 2.5%. Find the future value if the interest is compounded continuously Select one: a. 3311 438 OMR

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...
icon
Related questions
icon
Concept explainers
Topic Video
Question
Principal of 3000 OMR is invested for 4 years at rate 2.5%. Find the future
value if the interest is compounded continuously
Select one:
O a. 3311.438 OMR
O b. 3315.512 OMR
Oc 8154.845 OMR
O d. None of the above
Transcribed Image Text:Principal of 3000 OMR is invested for 4 years at rate 2.5%. Find the future value if the interest is compounded continuously Select one: O a. 3311.438 OMR O b. 3315.512 OMR Oc 8154.845 OMR O d. None of the above
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Application of Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
Algebra for College Students
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning