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find future value and interest

Find the future value and interest earned if $480.00 is invested at 8% compounded
(a) quarterly for 3 years.
(b) continuously for 3 years.
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1 Answer

 a)
      480( 1 + 0.08/4)12 = 608. 76
 
 
b)  480( 1 + 0.08) 3 = 604.66

Comments

b) should be 480e3(.08) = 610.1996 for continuous compounding
Using base e, and base 10, answer comes up slightly different.