<PRE><B>Question 1106447</B>
A. $30 invested at 8% compounded continuously after a period of 4 years.
I got the answer of $40.81 but it&#39;s $40.31. ( need clarification)
30*e^(0.08*4) = 41.31
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B. What rate of interest compounded annually is required to double an investment in 16 years? I got the answer of 4.5% but the answer is 4.43% (need clarification)
FV = PV*(1 + r)^16
2 = (1 + r)^16
{{{1 + r = root(16,2)}}}
{{{r = root(16,2) - 1}}}
r =~ 4.43%
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