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9. Suppose we deposit $1000 into a bank account which pays 5% annual interest, and the interest is compounded continuously. What is our average balance in this account over a period of five years. Note: There are no further deposits or withdrawals during this period. (A) $1,094 (B) $1,136 (C) $1,156 (D) $1,189

9. Suppose we deposit $1000 into a bank account which pays 5% annual interest, and the interest is compounded continuously. What is our average balance in this account over a period of five years. Note: There are no further deposits or withdrawals during this period. (A) $1,094 (B) $1,136 (C) $1,156 (D) $1,189

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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9. Suppose we deposit $1000 into a bank account which pays 5% annual interest, and the interest is compounded continuously. What is our average balance in this account over a period of five years. Note: There are no further deposits or withdrawals during this period. (A) $1,094 (B) $1,136 (C) $1,156 (D) $1,189
Transcribed Image Text:9. Suppose we deposit $1000 into a bank account which pays 5% annual interest, and the interest is compounded continuously. What is our average balance in this account over a period of five years. Note: There are no further deposits or withdrawals during this period. (A) $1,094 (B) $1,136 (C) $1,156 (D) $1,189
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