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if $3 000 000 is invested at 6 interest compounded continuously, how much will the investment be worth in 35 years?
A. $24, 498, 509.74
B. $23, 370, 654.48
C. $24, 119, 437.19
D. $24, 119, 437.19

Respuesta :

sqdancefan

Continuous compounding is computed using the product of interest rate and time as the power of e, the base of natural logarithms. That exponential is the multiplier of the initial amount.

... $3,000,000 × e^(.06×35) ≈ $24,498,509.74 . . . . matches choice A

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