Accumulated Amount of Money Flow An investment is expected to yield a uniform continuous rate of money flow of $20,000 per year
for 3 years. Find the accumulated amount at an interest rate of 4% compounded continuously.
1 answer:
Answer:
Amount after 3 years will be $22496
Step-by-step explanation:
We have given principal amount P = $20000
Rate of interest r = 4 %
Time period t = 3 years
We have to find the amount after 3 years
Amount is given by
So
So amount after 3 years will be $22496
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