What do you think is the limiting value for the balance

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Question - You can see that the more frequently your interest is compounded, the more money you will make. Surprisingly though, there is a limit to how much you can make at 100% interest, no matter how fast the account compounds. What do you think is the limiting value for the balance for imvesting $1000 for 1 year at 100% interest, as the speed of compounding tends to infinity? Look at the last value in the chart you filled out and you may be able to guess. (A hint that only makes sense if you went to lecture: Who was the seventh president of the United States?)

Reference no: EM133269795

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