Consider an investment where $45,000 is invested for 15 years at 8% compounded continuously. How much will this investment be worth after 15 years? (Round your answer to the nearest cent.) What is the total amount earned in compound interest? (Round your answer to the nearest cent.)
Consider an investment where $45,000 is invested for 15 years at 8% compounded continuously. How much will this investment be worth after 15 years? (Round your answer to the nearest cent.) What is the total amount earned in compound interest? (Round your answer to the nearest cent.)
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 1QTD
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Consider an investment where $45,000 is invested for 15 years at 8% compounded continuously.
How much will this investment be worth after 15 years? (Round your answer to the nearest cent.)
What is the total amount earned in compound interest ? (Round your answer to the nearest cent.)
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