If $6000 Is Invested in an Account for Which Interest

question 64

Short Answer

If $6000 is invested in an account for which interest is compounded continuously, find the amount of the investment at the end of 12 years for the following interest rates.
(a) 2%
(b) 7%

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Definitions:

Entrepreneurial Faculties

The skills, abilities, and mindset required to successfully identify opportunities, create, and grow new business ventures, including creativity, leadership, and risk tolerance.

Rapid Explosion

A sudden and rapid increase or expansion in a particular area or field, often used to describe quick growth in technology, population, or information.

Entrepreneurship

Entrepreneurship is the act of creating, managing, and running a new business or venture, taking on financial risks in the hope of making a profit.

Small Firms

Businesses characterized by a small number of employees, low revenue, or limited market share.