Use the formula for continuous compounding to compute the balance in the account after 1 , 5

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Question:

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.

8000

deposit in an account with an APR of

3 % .

Related Book For answer-question

Linear Algebra And Its Applications

ISBN: 9781292351216

6th Global Edition

Authors: David Lay, Steven Lay, Judi McDonald

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Posted Date: Apr 18, 2024 07:21 PM

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Use the formula for continuous compounding to compute the balance in the account after 1 , 5

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Linear Algebra And Its Applications

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