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Interest Ali Williams invests a $25,000 inheritance in a
Chapter 2, Problem 42A(choose chapter or problem)
QUESTION:
Problem 42A
Interest Ali Williams invests a $25,000 inheritance in a fund paying 5.5% per year compounded continuously. What will be the amount on deposit after each time period?
a. 1 year
b. 5 years
c. 10 years
Questions & Answers
QUESTION:
Problem 42A
Interest Ali Williams invests a $25,000 inheritance in a fund paying 5.5% per year compounded continuously. What will be the amount on deposit after each time period?
a. 1 year
b. 5 years
c. 10 years
ANSWER:
Solution:-
Step 1 of 4
Given that
We have to find what will be the amount on deposit after each time period?