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On the day of a child's birth, a parent deposits $30,000 in a trust fund that pays 3% interest, compounded continuously. Determine the balance in this account on the child's 24th birthday.
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14 votes
14 votes
On the day of a child's birth, a parent deposits $30,000 in a trust fund that pays 3% interest, compounded continuously. Determine the balance in this account on the child's 24th birthday.

User Beinghuman
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13 votes
13 votes

Answer:

3/100 × 30000 is the answer to your question.

User Alberto Malagoli
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