Use the formula for continuous compounding to compute the balance in the account after 1, 5,...
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Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20 years. Also, find the APY for the account A $17,000 deposit in an account with an APR of 4.5%. The balance in the account after 1 year is approximately $ (Round to the nearest cent as needed.) Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20 years. Also, find the APY for the account A $17,000 deposit in an account with an APR of 4.5%. The balance in the account after 1 year is approximately $ (Round to the nearest cent as needed.)
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To calculate the balance in the account we can use the formula for continuous compounding A Pert whe... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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