English: Read the passage from A Room of One’s Own. Unfortunately, it is precisely the men or women of genius who mind most what is said of them. Remember Keats. Remember the words he had cut on his tombstone. Think of Tennyson; think but I need hardly multiply instances of the undeniable, if very fortunate, fact that it is the nature of the artist to mind excessively what is said about him. UNDERLINED PORTION: Literature is strewn with the wreckage of men who have minded beyond reason the opinions of others

Read the passage from A Room of One’s Own. Unfortunately,

kalbaugh

21.09.2020

The size of the investment after 40 years is of $74,872.

Step-by-step explanation:

Continuous compounding:

The amount of money, in continuous compounding, after t years, is given by:

y(t) = y(0)(1+r)^t

In which y(0) is the initial investment and r is the interest rate, as a decimal.

You decide to continuously invest $5000 of your income each year in a risk-free investment with a 7% yearly interest rate compounded continuously.

This means that y(0) = 5000, r = 0.07 . So

y(t) = y(0)(1+r)^t

y(t) = 5000(1+0.07)^t

y(t) = 5000(1.07)^t

What is the size of your investment after 40 years?

This is y(40), that is, y when t = 40. So

y(t) = 5000(1.07)^t

$y(40) = 5000(1.07)^{40}$

y(40) = 74872

The size of the investment after 40 years is of $74,872.

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