If $3,000,000 is invested at 6% interest compounded continuously, how much will the investment be worth in 35 years?

Question

If $3,000,000 is invested at 6% interest compounded continuously, how much
will the investment be worth in 35 years?

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Raelynn 4 weeks 2021-09-19T05:32:03+00:00 2 Answers 0

Answers ( )

    0
    2021-09-19T05:33:34+00:00

    Answer:

      $24,498,509.74

    Step-by-step explanation:

    The formula for the value as a function of time is …

      V(t) = P·e^(rt)

    Filling in the numbers and doing the arithmetic, we have …

      V(35) = 3,000,000·e^(0.06·35) ≈ 24,498,509.74

    Compounded continuously for 35 years, the investment will be worth $24,498,509.74.

    0
    2021-09-19T05:33:44+00:00

    Answer: 24,498,509.74

    Step-by-step explanation:

    Ap.ex

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45:7+7-4:2-5:5*4+35:2 =? ( )