Consider an investment where $48,000 is invested for 15 years at 8% compounded continuously. (a) How much will this investment be worth after 15 years? (b) What is the total amount earned in compound interest? round to the nearest cent
Consider an investment where $48,000 is invested for 15 years at 8% compounded continuously. (a) How much will this investment be worth after 15 years? (b) What is the total amount earned in compound interest? round to the nearest cent
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section: Chapter Questions
Problem 65E
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Consider an investment where $48,000 is invested for 15 years at 8% compounded continuously.
(a) How much will this investment be worth after 15 years?
(b) What is the total amount earned in compound interest?
round to the nearest cent
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