Suppose $1000 is invested in an account paying interest at a rate of 1.5% per year. How
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Suppose $1000 is invested in an account paying interest at a rate of 1.5% per year. How much is in the account after 8 years if the interest is compounded
(a) Annually?
(b) Continuously?
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a If the interest is added only once a year ie annually then at the end of a year we have 1015x ...View the full answer
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Related Book For
Applied Calculus
ISBN: 9781119275565
6th Edition
Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale
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