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 $$$$2000$ deposit in an account with an APR of $5\mathrm{.}5\%$

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Part $1$

The balance in the account after year is approximately $$$

$$

enter your response here.

$($Round to the nearest cent as$$ needed.$)$