A business man deposits ₱50,000 in a bank account which pays 4.5% interest annually, compounded continuously a. Compute the amount in the account after seven years. b. Determine the interest earned by the deposit after ten years, presuming no withdrawals and no additional deposits.The interest is computed by subtracting the initial deposit
A business man deposits ₱50,000 in a bank account which pays 4.5% interest annually, compounded continuously a. Compute the amount in the account after seven years. b. Determine the interest earned by the deposit after ten years, presuming no withdrawals and no additional deposits.The interest is computed by subtracting the initial deposit
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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A business man deposits ₱50,000 in a bank account which pays 4.5% interest annually, compounded continuously
a. Compute the amount in the account after seven years.
b. Determine the interest earned by the deposit after ten years, presuming no withdrawals and no additional deposits.The interest is computed by subtracting the initial deposit from the final amount.
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