Asked by Derek Quach on Jun 28, 2024
Verified
What is the interest earned on $20,000 for 5 years,at an interest rate of % compounded continuously?
Compounded Continuously
The process of calculating interest in which the earnings are reinvested and earn additional interest continuously over time.
- Determine the accumulation of future savings through various compounding cycles.
- Assess the outcomes of distinct compounding periods on the enhancement of investments.
Verified Answer
MW
Learning Objectives
- Determine the accumulation of future savings through various compounding cycles.
- Assess the outcomes of distinct compounding periods on the enhancement of investments.
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