Mathematics, 20.09.2021 21:50 sehaamxoxo34
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 $9000 deposit in an account with an APR of 3.3%.
The balance in the account after 1 year is approximately $7.
(Round to the nearest cent as needed.)
The balance in the account after 5 years is approximately $
(Round to the nearest cent as needed.)
The balance in the account after 20 years is approximately $7.
(Round to the nearest cent as needed.)
The APY for the account is approximately %
(Round to two decimal places as needed.)
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Answers: 3
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Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20...
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