SOLUTION: An initial investment of $3,000 earns 8% interest compounded continuously. What will the investment be worth in 16 years? (Round your answer to the nearest cent.) $

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Question 819989: An initial investment of $3,000 earns 8% interest compounded continuously. What will the investment be worth in 16 years? (Round your answer to the nearest cent.)
$
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
 

Hi,

 investment of $3,000 earns 8% interest compounded continuously.

What will the investment be worth in 16 years?

A = P e ^(rt) = 3000e%5E%28.08%2A16%29