Question

Please help me ASAP

3. You deposit $1575 in a bank account that earns 3.75% interest per year for 5 years. How much will the balance be if it's compounded continuously?

4. From #3, How much will the balance be if it's compounded monthly?

5. You buy a boat for $35,000 that depreciates in value at about 17% per year. How much will it be worth in 3 years?

Answer 1

3) $1,899.81

4) $1,899.26

6) $17,150