Question: Continuous compoundingFor the case in the following table, find the future value at the end of the deposit period, assuming that interest is compounded continuously
Continuous compoundingFor 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.
amount of initial deposit $2200
nominal annual rate,r 15%
deposit period (years),n 4
The future value at the end of the deposit period is $____ (round to the nearest cent)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
