Question: a) Explain (using words, not formulas) the difference between interest that is compounded monthly and interest that is compounded continuously. b) Suppose you invest $2000

a) Explain (using words, not formulas) the difference between interest that is compounded monthly and interest that is compounded continuously.

b) Suppose you invest $2000 in an account that pays 4.8% interest, compounded monthly. Find the value of the account after 10 years. Show your work.

c) Suppose you invest $2000 in an account that pays 4.8% interest, compounded continuously. Find the value of the account after 10 years. Show your work.

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