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Interest Ali Williams invests a $25,000 inheritance in a

Chapter 2, Problem 42A

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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?

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