Use the formula for continuous compounding to compute the

Last updated: 2/21/2024

Use the formula for continuous compounding to compute the balance in the account after 1 5 and 20 years Also find the APY for the account A 3000 deposit in an account with an APR of 8 5 The balance in the account after 1 year is approximately 3266 15 Round to the nearest cent as needed The balance in the account after 5 years is approximately 4588 76 Round to the nearest cent as needed The balance in the account after 20 years is approximately Round to the nearest cent as needed H