1. Continuous compound interest. Find the value of an investment of $10,000 in 12 years if it earns an annual rate of 3.95% compounded continuously. 2. Continuous compound interest. Find the value of an investment of $24,000 in 7 years if it earns an annual rate of 4.35% compounded continuously.
1. Continuous compound interest. Find the value of an investment of $10,000 in 12 years if it earns an annual rate of 3.95% compounded continuously. 2. Continuous compound interest. Find the value of an investment of $24,000 in 7 years if it earns an annual rate of 4.35% compounded continuously.
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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1. Continuous compound interest. Find the value of an investment of $10,000 in 12 years if it earns an annual rate of 3.95% compounded continuously.
2. Continuous compound interest. Find the value of an investment of $24,000 in 7 years if it earns an annual rate of 4.35% compounded continuously.
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