Interest Compounded Continuously: After living in Oslo (Norway) for 20 years, Zirkcyt and Shybrt decide to move inland to help operate the family ski resort. They hope to make the move in 6 years, after they have put aside 140,000 kroner. If they invest 85,000 kroner in an account paying 6.9% interest compounded continuously...
Part a: Will they meet their 140,000 kroner goal?
Part b: If not, find the minimum amount they need to deposit that will allow them to meet this goal in 6 years.
Audio File: Continuously Compounding, Find the Minimum Deposit
No comments:
Post a Comment