Two people are placing a principal amount of $800 in a savings account with 6.5% annual interest. Account A uses continuously compounded interest, while Account B uses simple interest. Which account can be modeled exponentially, and what is the balance after 5 years? Account A; the balance after 5 years is $1,107.22 Account A; the balance after 5 years is $1,060 Account B; the balance after 5 years is $1,107.22 Account B; the balance

Two people are placing a principal amount of $800 in a savings account with 6.5% annual interest. Account A uses continuously compounded interest, while Account B uses simple interest. Which account can be modeled exponentially, and what is the balance after 5 years? Account A; the balance after 5 years is $1,107.22 Account A; the balance after 5 years is $1,060 Account B; the balance after 5 years is $1,107.22 Account B; the balance

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter7: Percents

Section7.7: Simple And Compound Interest

Problem 23E

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