Mr.Miser,who is 35 years old,has just inherited $11,000 and decides to use the windfall towards his retirement.He places the money in a bank that promises a return of 6% per year until his planned retirement in 30 years.If his funds earn 6% interest compounded annually,how much will he have at retirement?
Repeat the analysis for both semi-annual and continuous compounding.

Question

Mr.Miser,who is 35 years old,has just inherited $11,000 and decides to use the windfall towards his retirement.He places the money in a bank that promises a return of 6% per year until his planned retirement in 30 years.If his funds earn 6% interest compounded annually,how much will he have at retirement?
 Repeat the analysis for both semi-annual and continuous compounding.

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The Answer of Mr.Miser,who is 35 years old,has just inherited $11,000 and decides to use the windfall towards his retirement.He places the money in a bank that promises a return of 6% per year until his planned retirement in 30 years.If his funds earn 6% interest compounded annually,how much will he have at retirement?
 Repeat the analysis for both semi-annual and continuous compounding.

MrMiser,who Is 35 Years Old,has Just Inherited $11,000 and Decides