You place $3800 into an account paying 4.5% compounded continuously. Give the annual growth rate (i.e. the effective yield). * Use the formula: Ymax = er- 1. Give your answer as a percent rounded to 2 decimal places. If you deposit $3800 into an account that pays 4.5% compounded continuously, your APY is:
You place $3800 into an account paying 4.5% compounded continuously. Give the annual growth rate (i.e. the effective yield). * Use the formula: Ymax = er- 1. Give your answer as a percent rounded to 2 decimal places. If you deposit $3800 into an account that pays 4.5% compounded continuously, your APY is:
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 4PT: An investment account was opened with aninitial deposit of 9,600 and earns 7.4 interest,compounded...
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Transcribed Image Text:You place $3800 into an account paying 4.5% compounded
continuously.
Give the annual growth rate (i.e. the effective yield).
Use the formula: Ymax = er - 1.
Give your answer as a percent rounded to 2 decimal places.
If you deposit $3800 into an account that pays 4.5%
compounded continuously,
your APY is:
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