In 1887, a person sold a house to a lady for $30. If the lady had put the $30 into a bank account paying 4% interest, how much would the investment have been worth in the year 2012 if interest were compounded in the folowing ways? a monthly b. continuously af compounded monthly, the investment would be worth $ in 2012. (Round to the nearest dollar as needed.) b. If compounded continuously, the investment would be worth Sin 2012 (Round to the nearest dollar as needed)

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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**Text Transcription for Educational Website:**

In 1887, a person sold a house to a lady for $30. If the lady had put the $30 into a bank account paying 4% interest, how much would the investment have been worth in the year 2012 if interest were compounded in the following ways?

a. **Monthly**

   If compounded monthly, the investment would be worth $ ___ in 2012.
   (Round to the nearest dollar as needed.)

b. **Continuously**

   If compounded continuously, the investment would be worth $ ___ in 2012.
   (Round to the nearest dollar as needed.)

*Enter your answer in each of the answer boxes.*  
*Save for Later*

---

There are no graphs or diagrams present in the image.
Transcribed Image Text:**Text Transcription for Educational Website:** In 1887, a person sold a house to a lady for $30. If the lady had put the $30 into a bank account paying 4% interest, how much would the investment have been worth in the year 2012 if interest were compounded in the following ways? a. **Monthly** If compounded monthly, the investment would be worth $ ___ in 2012. (Round to the nearest dollar as needed.) b. **Continuously** If compounded continuously, the investment would be worth $ ___ in 2012. (Round to the nearest dollar as needed.) *Enter your answer in each of the answer boxes.* *Save for Later* --- There are no graphs or diagrams present in the image.
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