Question: Continuous compounding For the case in the following table, find the future value at the end of the deposit period, assuming that interest is compounded
Continuous compounding
For the case in the following table, find the future value at the end of the deposit period, assuming that interest is compounded continuously at the given nominal annual rate.(Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.)
| Amount of initial deposit | Nominal annual rate, r | Deposit period (years), n |
|
| $3,100 | 12% | 3 |
The future value at the end of the deposit period is ____. (Round to the nearest cent.)
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