An Initial Investment of $5000 Earns 8

question 31

Short Answer

An initial investment of $5000 earns 8.8% interest, compounded continuously. What will the investment be worth in 12 years?
Please round the answer to the nearest cent. $__________

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Definitions:

Christopher Wren

An English architect who is recognized for his role in rebuilding London after the Great Fire of 1666, notably designing St. Paul's Cathedral.

Palladian

Referring to a style of architecture inspired by the works of the Venetian architect Andrea Palladio, characterized by symmetry and classical forms.

Saint Paul's

A renowned Anglican cathedral in London, England, famous for its dome, designed by Sir Christopher Wren.

Thirty Years' War

A series of conflicts in Central Europe between 1618 and 1648, primarily fought over religious freedom and territory, but also involving dynastic concerns.