An initial investment amount P, an annual interest rate r, and a time t are given. Find the future value of the investment when interest is compounded (a) annually, (b) monthly, (c) daily, and (d) continuously. Then find (e) the doubling time T for the given interest rate.
P=$19,000, r=4.2%, t = 30 months
a) The future value of the investment when interest is compounded annually is $ 21,058.28.
(Type an integer or a decimal. Round to the nearest cent as needed.)
b) The future value of the investment when interest is compounded monthly is $ 21,099.63.
(Type an integer or a decimal. Round to the nearest cent as needed.)
c) The future value of the investment when interest is compounded daily is $
(Type an integer or a decimal. Round to the nearest cent as needed.)