In 1851, a person sold a house to a lady for $24. If the lady had put the $24 into a bank account paying 5% interest, how much would the investment have been worth in the year 2011 if interest were compounded in the following ways? a. monthly b. continuously a. If compounded monthly, the investment would be worth $ (Round to the nearest dollar as needed.) in 2011.
In 1851, a person sold a house to a lady for $24. If the lady had put the $24 into a bank account paying 5% interest, how much would the investment have been worth in the year 2011 if interest were compounded in the following ways? a. monthly b. continuously a. If compounded monthly, the investment would be worth $ (Round to the nearest dollar as needed.) in 2011.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.CR: Chapter 2 Review
Problem 124CR
Question
Transcribed Image Text:In 1851, a person sold a house to a lady for $24. If the lady had put the $24 into a bank account paying 5% interest, how much would the investment have been worth in the year 2011 if interest were compounded in the following ways?
a. monthly
b. continuously
a. If compounded monthly, the investment would be worth $
(Round to the nearest dollar as needed.)
in 2011.
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