Complete the table to determine the balance A for P dollars invested at rate r for t years, compounded n times per year. (Round to the nearest cent.)
P = $2000, r = 4%, t = 20 years
when n=
1
2
4
12
365
Continuous compounding
P = $2000, r = 4%, t = 20 years
when n=
1
2
4
12
365
Continuous compounding
-
n=1 A=4,382.25
n=2 A=4,416.08
n=4 A=4,433.43
n=12 A=4,445.16
n=365 A=4,450.89
Continuous compounding A=4,451.08
n=2 A=4,416.08
n=4 A=4,433.43
n=12 A=4,445.16
n=365 A=4,450.89
Continuous compounding A=4,451.08