Use the formulas to solve this exercise. You decide to invest $8000 for 3 years at an
Question:
Use the formulas
to solve this exercise. You decide to invest $8000 for 3 years at an annual rate of 8%. How much more is the return if the interest is compounded continuously than if it is compounded monthly? Round to the nearest dollar.
Transcribed Image Text:
nt A = P(1 + 2)² n and A Pert =
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Continuously A 8000e0083 101...View the full answer
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