In 1884, a person sold a house to a lady for $26. if the lady had put the $26 into the bank account paying 4% interest, how much would the investment have been worth in the year 2009 if the interest were compounded in the following ways?

Part a)  

Part b)  

Step-by-step explanation:

The complete question is

In 1884, a person sold a house to a lady for $26. If the lady had put the $26 into the bank account paying 4% interest, how much would the investment have been worth in the year 2009 if interest were compounded in the following ways?

a) monthly   b) continuously

Part a) compounded monthly

we know that    

The compound interest formula is equal to  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

substitute in the formula above

Part b) compounded continuously

we know that

The formula to calculate continuously compounded interest is equal to

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest in decimal  

t is Number of Time Periods  

e is the mathematical constant number

we have  

substitute in the formula above

a) 32pie square meters

step-by-step explanation:

2.2°  

step-by-step explanation:

let θ = the angle of elevation.

tanθ =77/2020

tanθ = 0.038 12

      θ = tan⁻¹0.038 12

      θ = 2.2°