2) Compound interest You deposit $1000 in a bank account paying 8% interest. Find how much will be in your account after 3 years if the interest is compounded: a) quarterly. b) continuously

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
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Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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2) Compound interest You deposit $1000 in a bank account paying 8% interest. Find how much
will be in your account after 3 years if the interest is compounded:
a) quarterly.
b) continuously
Transcribed Image Text:2) Compound interest You deposit $1000 in a bank account paying 8% interest. Find how much will be in your account after 3 years if the interest is compounded: a) quarterly. b) continuously
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