An initial amount of $1100 is invested in an account at an interest rate of 8% per year, compounded continuously. Assuming that no withdrawals are made, fin the amount in the account after three years. Do not round any intermediate computations, and round your answer to the nearest cent.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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An initial amount of $1100 is invested in an account at an interest rate of 8% per year, compounded continuously. Assuming that no withdrawals are made, fin
the amount in the account after three years.
Do not round any intermediate computations, and round your answer to the nearest cent.
Transcribed Image Text:An initial amount of $1100 is invested in an account at an interest rate of 8% per year, compounded continuously. Assuming that no withdrawals are made, fin the amount in the account after three years. Do not round any intermediate computations, and round your answer to the nearest cent.
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