Quarterly deposits of $5,000 are being made on a high yield investment that earns an interest rate of 20% per year compounded continuously. How much money will be in this investment at the end of the 20th year? Choose the closest answer OA. 4,842,000 OB. 4,856,000 OC. 6,652,000 OD. 5,236,000
Quarterly deposits of $5,000 are being made on a high yield investment that earns an interest rate of 20% per year compounded continuously. How much money will be in this investment at the end of the 20th year? Choose the closest answer OA. 4,842,000 OB. 4,856,000 OC. 6,652,000 OD. 5,236,000
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter19: The Basic Tools Of Finance
Section: Chapter Questions
Problem 3CQQ
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