Answered: With continuous compounding at 8…

With continuous compounding at 8 percent for 20 years, the future value of an initial investment of Sh.15,000 is closest to Select one: a. 241,026 b. 74,295.5 c. 1,973,928 d. 3028.5

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 27P

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Question

With continuous compounding at 8 percent for 20 years, the future value of an initial investment of Sh.15,000 is closest to

Select one:

a. 241,026

b. 74,295.5

c. 1,973,928

d. 3028.5

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