Question: How do I calculate the future value at the end of the deposit period? Continuous compounding For the case in the followingtable, find the future
How do I calculate the future value at the end of the deposit period?
Continuous compoundingFor the case in the followingtable, find the future value at the end of the depositperiod, assuming that interest is compounded continuously at the given nominal annual rate.(Click on the icon located on thetop-right corner of the data table below in order to copy its contents into aspreadsheet.)
Amount of initial deposit $3,500
Nominal annual rate 11%
Deposit period (years)13
The future value at the end of the deposit period is $??? (Round to the nearestcent.)
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