SOLUTION: Rochelle deposits $5,000 in an IRA. What will be the value (in dollars) of her investment in 25 years if the investment is earning 7% per year and is compounded continuously? (Simp

Algebra ->  Logarithm Solvers, Trainers and Word Problems -> SOLUTION: Rochelle deposits $5,000 in an IRA. What will be the value (in dollars) of her investment in 25 years if the investment is earning 7% per year and is compounded continuously? (Simp      Log On


   

Question 1153712: Rochelle deposits $5,000 in an IRA. What will be the value (in dollars) of her investment in 25 years if the investment is earning 7% per year and is compounded continuously? (Simplify your answer completely. Round your answer to the nearest cent.)
Answer by ikleyn(52834) About Me  (Show Source):
You can put this solution on YOUR website!
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Future value = 5000%2Ae%5E%280.07%2A25%29 = 5000%2A2.71828%5E%280.07%2A25%29 = 28772.98 dollars.    ANSWER