Money is transferred continuously into an account at the constant rate of $80,000 per year. The account earns interest at the annual rate of 5% compounded continuously. How much will be in the account at the end of 10 years? Round to the nearest dollar.
Money is transferred continuously into an account at the constant rate of $80,000 per year. The account earns interest at the annual rate of 5% compounded continuously. How much will be in the account at the end of 10 years? Round to the nearest dollar.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:Money is transferred continuously into an account at the constant rate of $80,000 per year. The account
earns interest at the annual rate of 5% compounded continuously. How much will be in the account at the
end of 10 years? Round to the nearest dollar.
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