After carrying out the calculations in this problem, youll
Chapter 5, Problem 25(choose chapter or problem)
After carrying out the calculations in this problem, youll see one of the reasons why some governments impose inheritance taxes and why laws are passed to prohibit savings accounts from being passed from generation to generation without restriction. Suppose that a family invests $1000 at 8% per annum compounded continuously. If this account were to remain intact, being passed from generation to generation, for 300 years, how much would be in the account at the end of those 300 years?
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