Question: A man has $5000 on deposit in a bank that pays 5% interest compounded annually. He wonders how much more advantageous it would be to

A man has $5000 on deposit in a bank that pays 5% interest compounded annually. He wonders how much more advantageous it would be to transfer his funds to another bank whose dividend policy is 5% interest, compounded continuously. Compute how much he would have in his savings account at the end of 3 years under each of these situations.

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