Cherry places Php 100 000 in an account for her child upon birth. Assuming no additional deposits or withdrawals, how much will the child have at his eighteenth birthday if the bank pays 5 percent interest per annum, compounded continuously, for the entire time period?

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Use the growth equation.

Cherry places Php 100 000 in an account for her child upon birth. Assuming no additional deposits or
withdrawals, how much will the child have at his eighteenth birthday if the bank pays 5 percent interest per
annum, compounded continuously, for the entire time period?
Transcribed Image Text:Cherry places Php 100 000 in an account for her child upon birth. Assuming no additional deposits or withdrawals, how much will the child have at his eighteenth birthday if the bank pays 5 percent interest per annum, compounded continuously, for the entire time period?
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