SOLUTION: if $8,000 is invested at an interest rate of 7% per year, compounded comtinuously, find the amount of the investment at the end of 12 years

Question 1163080: if $8,000 is invested at an interest rate of 7% per year, compounded comtinuously, find the amount of the investment at the end of 12 years
Answer by ikleyn(52903) (Show Source): You can put this solution on YOUR website!
.


The formula for the future value of this investment is


    FV = ,


where t is the time in years.  So, in 12 years the value of the investment will be


    FV =  = 18530.93 dollars.    ANSWER

Solved.

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