SOLUTION: find the future value if 1000 if invested for 20 years at 8% compounded continously.
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Question 1076871: find the future value if 1000 if invested for 20 years at 8% compounded continously.
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
Using the formula for continuous compounding, FV=Pe^rt, where FV is future value, P is the principal,r is the yearly interest rate, and t is years, we get:
FV=1000*e^1.6= 4953.032 as your future value. ☺☺☺☺
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