Suppose $3500 is deposited in an account paying 4% interest compounded continuously for 5 years. Find the total amount in the account at the end of 5 years. Give your answer to the nearest hundredth (two decimal places). Total Amount: Find the total amount of interest accrued over the 5-year period. Give your answer to the nearest hundredth (two decimal places). Interest Accrued:
Suppose $3500 is deposited in an account paying 4% interest compounded continuously for 5 years. Find the total amount in the account at the end of 5 years. Give your answer to the nearest hundredth (two decimal places). Total Amount: Find the total amount of interest accrued over the 5-year period. Give your answer to the nearest hundredth (two decimal places). Interest Accrued:
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 36P
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Suppose $3500 is deposited in an account paying 4% interest compounded continuously for 5 years.
- Find the total amount in the account at the end of 5 years. Give your answer to the nearest hundredth (two decimal places).
Total Amount:
- Find the total amount of interest accrued over the 5-year period. Give your answer to the nearest hundredth (two decimal places).
Interest Accrued:
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