<PRE><B>Question 1129904</B>
How much will $500 be worth 60 years from now to the nearest cent if it is invested at 4.75% APR compounded at the following rates? Be sure to show the formula you use.

a.) monthly 
60 years = 720 months
$500*(1 + 0.0475/12)^720
=~ $8595.40
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b.)daily
Similar to a
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c.) continuously
= $500*e^(60*0.0475)
= $8643.89</PRE>