Question: Please do not use Excel, show calculations with formulas where needed. Please feel free to ask me for more info; this is a TWO PART

Please do not use Excel, show calculations with formulas where needed. Please feel free to ask me for more info; this is a TWO PART question. Thanks!

2. Continuous compounding of interest is found as i=er-1 Where r-nominal rate per year, decimal

a. Suppose $1000 is invested into a continuously compounded 8% nominal interest account for 5 years. What is the future amount?

b. What if this same problem was an 8%/yr CM problem? What is the future amount?

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