Section 1

If $1000 is deposited into an account earning 9% interest compounded continuously, find the value of the account after . a) 5 years. b) 10 years. Solution. a) Using a calculator we find that . b) Similar to what was done in part a), we have ( Key idea. There is virtually no difference whether a bank treats a year as 365 days or 360 days. ................
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