Question: 37. With continuous compounding at 2.4% p.a. for 25 years, what is the approximate future value of a $120,000 initial investment (rounded to the nearest

37. With continuous compounding at 2.4% p.a. for 25 years, what is the approximate future value of a $120,000 initial investment (rounded to the nearest dollar)?

38. For $125,000 Laura Croft can purchase a 15-year ordinary annuity which will pay her a yearly payment of $14,895.00 for 15 years. What is the annual interest rate implicit in this investment? Round your answer to the nearest tenth (for example, record 0.4325 as 43.3% - but do not include the percent sign in iCollege).

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