An initial investment amount P, an annual interest rate r, and a time t are...
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An initial investment amount P, an annual interest rate r, and a time t are given. Find the future value of the investment when interest is compounded (a) annually, (b)monthly, (c) daily, and (d) continuously. Then find (e) the doubling time T for the given interest rate.P = $60,000, r=4.8%, t = 5 yra) The future value of the investment when interest is compounded annually is $(Type an integer or a decimal. Round to the nearest cent as needed.)b) The future value of the investment when interest is compounded monthly is $(Type an integer or a decimal. Round to the nearest cent as needed.)c) The future value of the investment when interest is compounded daily is $(Type an integer or a decimal. Round to the nearest cent as needed.)d) The future value of the investment when interest is compounded continuously is $.(Type an integer or a decimal. Round to the nearest cent as needed.)e) Find the doubling time for the given interest rate.T = yr(Type an integer or decimal rounded to two decimal places as needed.)
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