SOLUTION: On the day of your grandchild's birth, you deposit$46881 in a trust fund that pays 7.01% interest, compounded continously. Find the balance in this account on your grandchilds 29th
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Question 140002: On the day of your grandchild's birth, you deposit$46881 in a trust fund that pays 7.01% interest, compounded continously. Find the balance in this account on your grandchilds 29th birthday. Being that i'm really old now i'm having some difficulty solving this problem. Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! A(t) = Pe^(rt)
A(29) =46881*e^(0.0701*29)
A(29) = $357992.66
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Cheers,
Stan H.
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