amount at the beginning = 5000
amount after 20 years
= 5000 e^(.04(20)) = 11127.70
evaluated the "average value" as defined in your text book or notes.
I don't know how it was defined for your course.
A deposit of $5,000 at 4% interest compounded continuously will grow to V(t) = 5000e^0.04t dollars after t years. Find the average value during the first 20 years (that is, from time 0 to time 20). (Round your answer to the nearest cent.)
1 answer