Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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Question

Use the formula for continous compunding interest to compute the balance in an account after 1,5,and 20 years 

find the APY 

A 7000 deposit for an account with an APR of 4.75%

what is the balance after 1, 5, and 20 years 

what is the APY percentage 

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