Suppose that $4000 is invested at an interest rate of 5.5% per year, compounded continuously. What is the balance after 8 years?
2 answers
FV=4000e^8x.055= 4000e^=6210.83
What amount will be in an account after 1.5 years if $4,000 is invested at 5% compounded semiannually?
1 answer