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Use the formula for continuous compounding to compute the balance in the account after 1, 5,...

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 $3000 deposit in an account with an APR of 8%

Year 1 =

Year 5+

Year 20=

Math   Statistics-And-Probability   
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