Which investment will earn more money, a $3000 investment for 7 years at 7% compounded annually or a $3000 investment for 7 years compounded continuously at 6%? 7% compounded annually 6% compounded continuously

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.1: Exponential Functions
Problem 2YT
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Which investment will earn more money, a $3000 investment for 7 years at 7% compounded annually or a $3000 investment for 7 years compounded continuously at 6%?
7% compounded annually
6% compounded continuously
Transcribed Image Text:Which investment will earn more money, a $3000 investment for 7 years at 7% compounded annually or a $3000 investment for 7 years compounded continuously at 6%? 7% compounded annually 6% compounded continuously
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