<PRE><B>Question 99607</B>
You invest $30,000 in an account for your retirement. the interest you receive is 8% compounded monthly. 
A. How much will be in the account after 30 years?
A(30) = 30000(1+0.08/12)^(12*30)
A(30) = 30000(1.00666666...)^360
A(30) = 30000(10.93572966...)
A(30) = $328,071.89
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B. If your interest was compounded continously at the same rate, how much would you have after 30 years?
A(30)=30000e^(0.08*30)
A(30)=30000(11.02317638...)
A(30)=$330,695.29 
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Cheers,
Stan H.
</PRE>