If $3 million is invested at 6% interest compounded continuously how much will the investment be worth in 35 years
1 answer:
<span>P=$3000000 , r=6% , n=365 and t=35 years
</span>A= 3000000 (1 +0.06/365)³⁶⁵ˣ³⁵
A= 3000000 * 1.000164¹²⁷⁷⁵
A= 3000000 * <span>8.124858
A= 24374574
</span>A = P+<span>I
</span><span>2437457.4 </span><span><span>=3000000+I
</span><span><em />I =2437457.4−3000000
</span><span>I =21374574</span></span>
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