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Formula for Continuous Compounding Assignment | Assignment Help Services

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September 13th, 2019

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.

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A deposit of $5000 into an account with an APR of 8%.

Balance for year 1=

Balance for year 5=

Balance for year 20=

APY=

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