What is the compound interest if $48,000 is invested for 5 years at 8% compounded continuously? (Round your answer to the nearest cent.)

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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What is the compound interest if $48,000 is invested for 5 years at 8% compounded continuously? (Round your answer to the nearest cent.)

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