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

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 56000 deposit in an account with an APR of 85% The balance in the account after 1 year is approximately $ (Round to the nearest cent as needed) The balance in the account after 5 years is approximately $ (Round to the nearest cont as needed.) The balance in the account after 20 years is approximately $ (Round to the nearest cont as needed) The Apy for the account is approximately % (Round to two decimal places as needed)

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