A tax free municipal bond pays 4.75% compounded continuously. What is the value of a $2,000 bond after 30 years? Round your answer to the nearest cent.

Question

[Hint- A=P e^rt where P= present(initial) value, A= future value, r= annual rate, and t= number of years]

P.S.The rt is an exponent to e

Answer 1

you have everything you need

just crank the crank

Answer 2

2306.306162