Moneysaver's Bank offers a savings account that earns 5% interest compounded continuously. If Dan deposits $3600, how much will he have in the account after three years, assuming he makes no withdrawals? Do not round any intermediate computations, and round your answer to the nearest cent.

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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Moneysaver's Bank offers a savings account that earns 5% interest compounded continuously. If Dan deposits $3600, how
much will he have in the account after three years, assuming he makes no withdrawals?
Do not round any intermediate computations, and round your answer to the nearest cent.
$
X
S
?
Transcribed Image Text:Moneysaver's Bank offers a savings account that earns 5% interest compounded continuously. If Dan deposits $3600, how much will he have in the account after three years, assuming he makes no withdrawals? Do not round any intermediate computations, and round your answer to the nearest cent. $ X S ?
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