Recently, a certain bank offered a 5-year CD that earns 2.45% compounded continuously. Use the given information to answer the questions. ..... (a) If $10,000 is invested in this CD, how much will it be worth in 5 years? approximately S (Round to the nearest cent.)
Recently, a certain bank offered a 5-year CD that earns 2.45% compounded continuously. Use the given information to answer the questions. ..... (a) If $10,000 is invested in this CD, how much will it be worth in 5 years? approximately S (Round to the nearest cent.)
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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