1. Max deposits $3,700 at 4.75% interest, compounded P 3700 a. What is his ending balance? 20475 +-4 0²-271828 (10475X4) B-37002221590M

Essentials Of Investments
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Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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3.6 Continuous Compounding
1. Max deposits $3,700 at 4.75% interest, compounded continuously for four years.
P 3700 a. What is his ending balance?
0475
+-4
22,11828
B-3700(2
(10475X4)
TB-447770
b. How much interest did the account earn?
2. Find the interest earned on a $21,000 balance for ten months at 43% interest compounded
continuously.
Transcribed Image Text:3.6 Continuous Compounding 1. Max deposits $3,700 at 4.75% interest, compounded continuously for four years. P 3700 a. What is his ending balance? 0475 +-4 22,11828 B-3700(2 (10475X4) TB-447770 b. How much interest did the account earn? 2. Find the interest earned on a $21,000 balance for ten months at 43% interest compounded continuously.
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