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17) Your parents put $2000 into an account when you were born. This account has an interest rate of 8% How much money will be in the account on your 18th birthday if the interest is a) Compounded annually?
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17) Your parents put $2000 into an account when you were born. This account has an interest rate of 8%

How much money will be in the account on your 18th birthday if the interest is
a) Compounded annually?
b) Compounded continuously?

User Jose Alban
by
5.4k points

1 Answer

2 votes

Answer:

a.......4880

Explanation:

b.......180 per year

User Korsarq
by
5.2k points
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