Lantana needs $1776 to reach its goal of $14000
Continuous compounding is the mathematical limit that compound interest can reach.
It is the limit of the function A(1 + 1/n) ^ n as n approaches infinity. IN theory interest is added to the initial amount A every infinitesimally small instant.
The limit of (1 + 1/n)^n is the number e ( = 2.718281828 to 9 dec places).
Say we invest $1000 at daily compounding at yearly interest of 2 %. After 1 year the $1000 will increase to:-
1000 ( 1 + 0.02/365)^365 = $1020.20
with continuous compounding this will be
1000 * e^1 = $2718.28
Answer:
additive property
Step-by-step explanation:
it is because when you ADD the angles it is EQUAL to the answer
F(1) = 4 is given
f(2) = 2*f(2-1)+3
= 2*f(1)+3
= 2*4+3
= 8+3
= 11
f(3) = 2*f(3-1)+3
= 2*f(2)+3
= 2*11+3
= 22+3
= 25
f(4) = 2*f(4-1)+3
= 2*f(3)+3
= 2*25+3
= 50+3
= 53
f(5) = 2*f(5-1)+3
= 2*f(4)+3
= 2*53+3
= 106+3
= 109
f(1) = 4
f(2) = 11
f(3) = 25
f(4) = 53
f(5) = 109
