1 answer

Find the future/present value of $4000 compunded continuously at 8% for 6 years

Question:

Find the future/present value of $4000 compunded continuously at 8% for 6 years.
A= Pe rt
I answered $4000/(.08)^6- future value = $6464.30
present value $4000(1+.08/12)^72= $6454

Answers

I get the same answers you do except I got $6464.32 for the first. The second you don't indicate the compounding period, but use monthly in your equation, so I did the same. Your answer is correct based on monthly compounding. Good luck Bob.

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