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3 years ago

14

Find the value of an investment of $20,000 for 12 years at an annual interest rate of 3.85%

1 answer:

MatroZZZ [7]3 years ago

3 0

Answer:

<h2> $31,745</h2>

Step-by-step explanation:

Compound continuously:

FVn = PV x e^rn

where

PV = $20,000

r = 3.85%

n = 12 years

plugin values into the formula:

FV₁₂ = $20,000 x e ⁰°⁰³⁸⁵ ⁽¹²⁾

FV₁₂ = $31,745

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2 years ago

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omeli [17]

<u>ANSWER: </u>

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<u>SOLUTION:</u>

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