Grandparents want to make a gift of $100,000 for their grandchild's 20th birthday. How much would have
Question:
(a) 10.5% compounded continuously
(b) 11% compounded continuously?
(c) Describe the effect that this slight change in the interest rate makes over the 20 years of this investment?
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Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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