Karla invested $25,00 in a fund that paid 3.0% compounded continuously for 5 years. How much...

Question

Question

Karla invested $25,00 in a fund that paid 3.0% compounded continuously for 5 years. How much will she have in the fund at the end of the 5th year?

business finance

Answer 1

Answer #1

Initial Investment = $ 2500, Tenure = 5 years, Interest Rate = 3 % compounded continuously

Target Future Value = 2500 x EXP(0.03 x 5) = $ 2904.59

Answer 2

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