Problem

Power of Continuous Compounding In 1820, a William Record of London deposited $0.50 (or it...

Power of Continuous Compounding In 1820, a William Record of London deposited $0.50 (or its equivalent in English pounds) for his granddaughter in the Bank of London. Unfortunately, he died before he could tell his granddaughter about the account. One hundred sixty years later, in 1980, the granddaughter’s heirs discovered the account. What was the value of the account if the bank paid 6% compounded continuously?

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Solutions For Problems in Chapter 2.3