In 1895 the winner of a competition was paid 180 in 2015


In 1895, the winner of a competition was paid $180. In 2015, the winner's prize was $122,000 assuming continuous compounding. If the winnings continue to grow at the same rate but with semiannual compounding; what are the winnings in the year 2040?

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Financial Management: In 1895 the winner of a competition was paid 180 in 2015
Reference No:- TGS01716605

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