I will do the middle one, you do the rest
amount = 20 e^(5*.025)
= 20 e^.125 = 22.66
What does APY stand for ?
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 $20 comma 000 deposit in an account with an APR of 2.5%.
1 answer
1 answer