Occasionally a savings account may actually pay interest compounded continuously. For each deposit, find the interest earned if interest is compounded (a) semiannually, (b) quarter (d) daily, and (e) continuously. Use 1 year=365 days. Principal $1045 Rate 1.6% Time 3 years a) The interest earned if interest is compounded semiannually is $51.17. Do not round until the final answer. Then round to the nearest cent as needed.) b) The interest earned if interest is compounded quarterly is $51.28. Do not round until the final answer. Then round to the nearest cent as needed.) c) The interest earned if interest is compounded monthly is $51.35. Do not round until the final answer. Then round to the nearest cent as needed.) d) The interest earned if interest is compounded daily is Do not round until the final answer. Then round to the nearest cent as needed.) *
Occasionally a savings account may actually pay interest compounded continuously. For each deposit, find the interest earned if interest is compounded (a) semiannually, (b) quarter (d) daily, and (e) continuously. Use 1 year=365 days. Principal $1045 Rate 1.6% Time 3 years a) The interest earned if interest is compounded semiannually is $51.17. Do not round until the final answer. Then round to the nearest cent as needed.) b) The interest earned if interest is compounded quarterly is $51.28. Do not round until the final answer. Then round to the nearest cent as needed.) c) The interest earned if interest is compounded monthly is $51.35. Do not round until the final answer. Then round to the nearest cent as needed.) d) The interest earned if interest is compounded daily is Do not round until the final answer. Then round to the nearest cent as needed.) *
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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Occasionally a savings account may actually pay interest compounded continuously. For each deposit, find the interest earned if interest is compounded (a) semiannually, (b) quarterly, (c) monthly,
(d) daily, and (e) continuously. Use 1 year = 365 days.
Principal
$1045
(a) The interest earned if interest is compounded semiannually is $51.17.
(Do not round until the final answer. Then round to the nearest cent as needed.).
(b) The interest earned if interest is compounded quarterly is $51.28.
(Do not round until the final answer. Then round to the nearest cent as needed.)
(c) The interest earned if interest is compounded monthly is $51.35.
(Do not round until the final answer. Then round to the nearest cent as needed.)
L.
(d) The interest earned if interest is compounded daily is
(Do not round until the final answer. Then round to the nearest cent as needed.)
Rate
1.6%
(e) The interest earned if interest is compounded continuously is $.
(Do not round until the final answer. Then round to the nearest cent as needed.)
80
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Time
3 years
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Transcribed Image Text:K
Occasionally a savings account may actually pay interest compounded continuously. For each deposit, find the interest earned if interest is compounded (a) semiannually, (b) quarterly, (c) monthly,
(d) daily, and (e) continuously. Use 1 year = 365 days.
Principal
$1045
(a) The interest earned if interest is compounded semiannually is $51.17.
(Do not round until the final answer. Then round to the nearest cent as needed.).
(b) The interest earned if interest is compounded quarterly is $51.28.
(Do not round until the final answer. Then round to the nearest cent as needed.)
(c) The interest earned if interest is compounded monthly is $51.35.
(Do not round until the final answer. Then round to the nearest cent as needed.)
L.
(d) The interest earned if interest is compounded daily is
(Do not round until the final answer. Then round to the nearest cent as needed.)
Rate
1.6%
(e) The interest earned if interest is compounded continuously is $.
(Do not round until the final answer. Then round to the nearest cent as needed.)
80
F3
2
U
$
↑
Time
3 years
C
↓
(1,0)
a
F4
7
←
[88]
%
←
o
F5
+
T
6
-
8
.
i
F6
÷
e
B
a
Y
MacBook Air
&
7
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=
$
0
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u
с
F10
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¢
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F12
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