A sum of $20,000 is deposited in a bank. Find the amount on deposit after 3 years if the bank pays interest at the rate of 8% / year compounded daily and continuously. (Round your answer to the nearest cent.) (a) daily (assume a 365-day year) $ (b) continuously $
A sum of $20,000 is deposited in a bank. Find the amount on deposit after 3 years if the bank pays interest at the rate of 8% / year compounded daily and continuously. (Round your answer to the nearest cent.) (a) daily (assume a 365-day year) $ (b) continuously $
Chapter5: Exponential And Logarithmic Functions
Section5.1: Exponential Functions And Their Graphs
Problem 57E: Trust Fund On the day of a child’s birth, a parent deposits $30,000 in a trust fund that pays 5...
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