$2000 Is Invested at 5% Annual Interest

question 33

Short Answer

$2000 is invested at 5% annual interest. Find the value at the end of 18 years if:
(a) the interest compounds monthly.(b) the interest compounds continuously.

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Definitions:

Plant Foods

Edible parts of plants, including fruits, vegetables, grains, nuts, and seeds, that are consumed by humans and other herbivores.

Detritus-Feeders

Organisms that feed on dead organic material, contributing to decomposition and nutrient cycling.

Fungi

Eukaryotic saprotrophic decomposer; the body is made up of filaments called hyphae that form a mass called a mycelium.

Bacteria

Microscopic, single-celled organisms found in nearly every environment on Earth, some of which are beneficial while others can cause diseases.