FlybynightSavings.com is offering a savings account that pays 32% compounded continuously. How much interest would a deposit of $3,000 earn over 5 years?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 62SE: Rachael deposits $1500 into a retirement fund each year. The fund earns 8.2% annual interest,...
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FlybynightSavings.com is offering a savings account that pays 32% compounded continuously. How much interest would a deposit of $3,000 earn over 5 years?

 

 

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