99.5k views
5 votes
Two accounts each begin with a deposit of ​$5000. Both accounts have rates of 5.7​%, but one account compounds interest once a year while the other account compounds interest continuously. Show the amount in each account and the interest earned after one​ year, five​ years, ten​ years, and 20 years.

User Lakshitha
by
8.3k points

1 Answer

5 votes
The answer for 1 year is 1,000
User Ziyang Liu
by
8.6k points