Suppose you deposit $800 in an account that pays 4.25% annual interest compounded quarterly for five years. How much more would you have in the account if the interest was compounded continuously?

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
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Suppose you deposit $800 in an account that pays 4.25% annual interest compounded quarterly
for five years. How much more would you have in the account if the interest was compounded
continuously?
Transcribed Image Text:Suppose you deposit $800 in an account that pays 4.25% annual interest compounded quarterly for five years. How much more would you have in the account if the interest was compounded continuously?
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