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    Nanniep21

    If You Invest $6000 In A Mutual Fund Paying 8.5% Interest Compounded Continuously, What Will The Maturity Value Be In 30 Years?

    If i invest $6000 in a mutual fund paying 8.5% interest compounded continuously, what will the maturity value be in 30 years?

    asked 4 months ago

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    Xarsh

    Investment I = $6000
    Interest rate r = 8.5%
    Number of years n =30

    amount = I(1+r)^n
    = 6000(1+.085)^30
    =6000(1.085)^30
    =6000(11.558)
    =69349.51 ----  answer

    answered 4 months ago   

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