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e the following pro $14,500 is deposited into an account that pays 75% annual interest compounded monthly. the account in 12 years.

e the following pro $14,500 is deposited into an account that pays 75% annual interest compounded monthly. the account in 12 years.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Please help with #4 and #5
A = Pert Solve the following problems using the correct formula: 4. If $14,500 is deposited into an account that pays 4.75% annual interest compounded monthly. Find the balance in the account in 12 years. 5. If $14,380 is deposited into an account that pays 5% compounded continuously, find the amount in the account after 22 years.
Transcribed Image Text:A = Pert Solve the following problems using the correct formula: 4. If $14,500 is deposited into an account that pays 4.75% annual interest compounded monthly. Find the balance in the account in 12 years. 5. If $14,380 is deposited into an account that pays 5% compounded continuously, find the amount in the account after 22 years.
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