Question: Use the formula for continuous compounding to compute the balance in the account after1, 5, and 20 years.Also, find the APY for the account. A

Use the formula for continuous compounding to compute the balance in the account after1, 5, and 20 years.Also, find the APY for the account.

A $9000 deposit in an account with an APR of 3%.

Balance year 1=

Balance year 5=

Balance year 20=

APY=

(Round to the nearest cent as needed)

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