Suppose you invest $19,640.00 into an account earning an interest rate of 2.399% compounded continuously for 3 year(s) and thereafter earning aninterest rate of 3.935% compounded weekly. How much money is in the account after 10 years?The amount in the account is $Hint:

Future value of continuous compounding = Present Value *e^(rate*Term)

Suppose you invest $19,640.00 into an account earning an interest rate of 2.399% compounded continuously for 3 year(s) and thereafter earning and interest rate of 3.935% compounded weekly. How much money is in the account after 10 years? The amount in the account is $ Hint:

Suppose you invest $19,640.00 into an account earning an interest rate of 2.399% compounded continuously for 3 year(s) and thereafter earning and interest rate of 3.935% compounded weekly. How much money is in the account after 10 years? The amount in the account is $ Hint:

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter4: Managing Your Cash And Savings

Section: Chapter Questions

Problem 7FPE: Calculating interest earned and future value of savings account. If you put 6,000 in a savings...

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Question

Suppose you invest $19,640.00 into an account earning an interest rate of 2.399% compounded continuously for 3 year(s) and thereafter earning an
interest rate of 3.935% compounded weekly. How much money is in the account after 10 years?
The amount in the account is $
Hint:

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