2. Suppose $50,000 is deposited at a bank and the annual interests rate is 2% (a)What amount (correct to the nearest cent) will the account have after one year if interests is (ene (i) compounded quarterly; (ii) compounded monthly? (b) If interest is compoundedn times a year, express the amount An after one year in terms of n. (c) Does limn-A? What is the value?
2. Suppose $50,000 is deposited at a bank and the annual interests rate is 2% (a)What amount (correct to the nearest cent) will the account have after one year if interests is (ene (i) compounded quarterly; (ii) compounded monthly? (b) If interest is compoundedn times a year, express the amount An after one year in terms of n. (c) Does limn-A? What is the value?
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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Transcribed Image Text:2. Suppose $50,000 is deposited at a bank and the annual interests rate is 2%
(a)What amount (correct to the nearest cent) will the account have after one year if
interests is (-
(i) compounded quarterly; (ii) compounded monthly?
(b) If interest is compounded n times a year, express the amount A, after one year in
terms of n.
(c) Does lim, A,? What is the value?
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