The answer is $16216987.55 (IMPORTANT: This is the answer assuming that the interest rate is annually. The quesiton says 'continuously' so I was a bit confused)
To solve this problem, you can use the compound interest formula.
Here it is once you plug in the numbers: A = 5,000,000 ( 1 + .04) ^30
Just solve the equation to find the solution.
Answer:
the ratios 8/11 and 24/33 are proportional.
Step-by-step explanation:
