An initial deposit of $ 4 2 , 0 0 0 grows at an annual rate of

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Question:

An initial deposit of $

42, 000

grows at an annual rate of

10 %

for

21

years. Compare the final balances resulting from continuous compounding and annual compounding.

(

Round your answers to the nearest cent.

)

from continuous compounding

=

from annual compounding

=

Posted Date: May 18, 2024 07:09 PM

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An initial deposit of $ 4 2 , 0 0 0 grows at an annual rate of

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