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Find the accumulated amount after 3 years if $4000 is invested at 4% / year compounded continuously. (Round your answer to the nearest cent.) $

Find the accumulated amount after 3 years if $4000 is invested at 4% / year compounded continuously. (Round your answer to the nearest cent.) $

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 17E: Mortgage what is the monthly payment on a 30-year mortgage of $100,000 at 8% interest per year,...
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Find the accumulated amount after 3 years if $4000 is invested at 4%/year compounded continuously. (Round your answer to the nearest cent.) $ 147
Transcribed Image Text:Find the accumulated amount after 3 years if $4000 is invested at 4%/year compounded continuously. (Round your answer to the nearest cent.) $ 147
Find the present value of $20,000 due in 6 years at the given rate of interest. (Round your answers to the nearest cent.) (a) 6%/year compounded monthly $ (b) 7%/year compounded daily $
Transcribed Image Text:Find the present value of $20,000 due in 6 years at the given rate of interest. (Round your answers to the nearest cent.) (a) 6%/year compounded monthly $ (b) 7%/year compounded daily $
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