Calculus: Early Transcendentals
8th Edition
ISBN: 9781285741550
Author: James Stewart
Publisher: Cengage Learning
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You deposited $2,500 in a bank 4.5 years ago and it’s now worth $3,300. The bank compounded interest continuously. What interest rate did you earn? Round your answer to the nearest hundredth of a percent.
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- You deposit $1000 each year into an account earning 8% interest compounded annually. How much will you have in the account in 20 years?arrow_forwardI have $30,000 to put into an account. Explain which account would be better for me to choose. Account A: pays 2% interest, compounded monthly, for 10 years. OR Account B: pays 3% interest, compounded quarterly, for 8 years.arrow_forwardYou deposit $400 in an account earning 3% interest compounded annually. How much will you have in the account in 30 years? Round to the nearest penny.arrow_forward
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