Question

A person invests $100,000 at a nominal 12% interest per year compounded continuously. What will be the value of the

Answer 1

Answer:

25,000,000

Step-by-step explanation:

$100,000 / 0.12 = $833333.333333

$833333.333333 × 30 yrs = 25,000,000 in Dollars

Answer 2

Answer:

3,659,823

Step-by-step explanation:

P=100,000, r=0.12, and t=30, and we will solve for A(30).

A(t)=Pert

A(30)=100,000e(0.12)30

A(30)=3,659,823.44

which is $3,659,823 rounded to the nearest dollar