With continuous compounding at 8 percent for 20 years, what is the approximate future value of a $20,000 initial investment?

With continuous compounding at 8 percent for 20 years, what is the approximate future value of a $20,000 initial investment?


Compounding
Compounding is the process in which an asset's earnings, from either capital gains or interest, are reinvested to generate additional earnings over time. This growth, calculated using exponential functions, occurs because the investment will...
Future Value
Future value (FV) is the value of a current asset at a future date based on an assumed rate of growth. The future value (FV) is important to investors and financial planners as they use it to estimate how much an investment made today will be worth...

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Related Book For answer-question

Contemporary Business Mathematics with Canadian Applications

11th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs

ISBN: 978-0134141084