Round to the nearest penny. Suppose that $15,000 is invested at an interest rate of 7.5%. How much is the investment worth after 30 months if the interest is compounded: a) quarterly b) continuously

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 22T
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19. Round to the nearest penny.
Suppose that $15,000 is invested at an interest rate of 7.5%. How much is the investment
worth after 30 months if the interest is compounded:
a) quarterly
b) continuously
Transcribed Image Text:19. Round to the nearest penny. Suppose that $15,000 is invested at an interest rate of 7.5%. How much is the investment worth after 30 months if the interest is compounded: a) quarterly b) continuously
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