Answer the following questions involving continuously compounded interest. 4. Interest Rate: 5% per year Starting balance: Php 2160 Time passed: 13 years What is the new total balance? How much interest has accrued if calculated as continuously compounded interest? 5 Interest Rate: 6% per year Starting balance $2370 Time passed: 15 eyars What is the new total balance? How much interest has accrued if calculates as continuously compounded interest?
Answer the following questions involving continuously compounded interest. 4. Interest Rate: 5% per year Starting balance: Php 2160 Time passed: 13 years What is the new total balance? How much interest has accrued if calculated as continuously compounded interest? 5 Interest Rate: 6% per year Starting balance $2370 Time passed: 15 eyars What is the new total balance? How much interest has accrued if calculates as continuously compounded interest?
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
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Answer the following questions involving continuously compounded interest.
4. Interest Rate: 5% per year
Starting balance Php 2160
Time passed: 13 years
What is the new total balance?
How much interest has accrued if calculated as continuously compounded interest?
5. Interest Rate: 6% per year
Starting balance $2370
Time passed: 15 eyars
What is the new total balance?
How much interest has accrued if calculates as continuously compounded interest?
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