Don't use Ai and chatgpt.Answer in step by step with explanation and calculation provided. Quarterly deposits of $5,000 are being made on a high yieldinvestment that earns an interest rate of 20% per yearcompounded continuously. How much money will be in thisinvestment at the end of the 20th year?Choose the closest answerOA. 4,842,000OB. 4,856,000OC. 6,652,000OD. 5,236,000

The situation involves continuous compounding with quarterly deposits. The formula for continuously…

Answered: Quarterly deposits of $5,000 are being…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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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