How much would Sophie have in her account at the end of 10 years if she deposit $2,000 into the account today if she earned 8 percent interest and interest is compounded continuously? a. $4,451 approximately b. $4,521 approximately c. $4,444 approximately d. $4,451 approximately

How much would Sophie have in her account at the end of 10 years if she deposit $2,000 into the account today if she earned 8 percent interest and interest is compounded continuously? a. $4,451 approximately b. $4,521 approximately c. $4,444 approximately d. $4,451 approximately

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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Question

How much would Sophie have in her account at the end of 10 years if she deposit $2,000 into the account today if she earned 8 percent interest and interest is compounded continuously?

$4,451 approximately

$4,521 approximately

$4,444 approximately

$4,451 approximately

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