An electrician invested $9,000 in an investment account paying 2.45% interest compounded semiannually. After 30 years,...

 

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An electrician invested $9,000 in an investment account paying 2.45% interest compounded semiannually. After 30 years, the value of the account will have a balance of $18,685.71. If the electrician's investment was compounded continuously instead of twice per year, what would be the difference in the account balance after 30 years? An electrician invested $9,000 in an investment account paying 2.45% interest compounded semiannually. After 30 years, the value of the account will have a balance of $18,685.71. If the electrician's investment was compounded continuously instead of twice per year, what would be the difference in the account balance after 30 years?

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To find the difference in the account balance after 30 years if the investment was compounded contin... View the full answer