e the following pro $14,500 is deposited into an account that pays 75% annual interest compounded monthly. the account in 12 years.

Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter10: Exponential And Logarithmic Functions
Section10.2: Applications Of Exponential Functions
Problem 25PS
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Please help with #4 and #5
A = Pert
Solve the following problems using the correct formula:
4. If $14,500 is deposited into an account that pays
4.75% annual interest compounded monthly.
Find the balance in the account in 12 years.
5. If $14,380 is deposited into an account that pays 5%
compounded continuously, find the amount in the
account after 22 years.
Transcribed Image Text:A = Pert Solve the following problems using the correct formula: 4. If $14,500 is deposited into an account that pays 4.75% annual interest compounded monthly. Find the balance in the account in 12 years. 5. If $14,380 is deposited into an account that pays 5% compounded continuously, find the amount in the account after 22 years.
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