Complete parts (a) and (b) below.
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Part 1
a. If $80,000 is invested at 8%, compounded annually, find the future value in 8 years.
$148074.42148074.42
(Simplify your answer. Round to the nearest cent as needed.)
Part 2
b. If $80,000 is invested at 8% interest, compounded continuously, the future value is $151,718.47. How does this compare to the result from part (a)?
The amount found with
continuous
continuous
annual
compounding yields $enter your response here more.
(Round to the nearest cent as needed.)