Answer
a. $5,027,378,918$ dollars
b. $5,231,970,592$ dollars.
Work Step by Step
a. The total number of years is $2010-1626=384$. The general formula for the investment is
$A=P(1+\frac{r}{n})^{nt}$
with $P=24, r=0.05, n=12, t=384$
For compounding monthly, we have
$A=24(1+\frac{0.05}{12})^{12(384)}\approx5,027,378,918$ dollars
b. For compounding continuously, the general formula for the investment is $A=Pe^{rt}$, with $P=24, r=0.05, t=384$. Thus, we have
$A=24e^{0.05(384)}\approx5,231,970,592$ dollars.
