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 $6000 deposit in an account with an APR of 3.4%. The balance in the account after 1 year is approximately $ 6207.51. (Round to the nearest cent as needed.) The balance in the account after 5 years is approximately $ 7111.83. (Round to the nearest cent as needed.) The balance in the account after 20 years is approximately $ 11,843.27. (Round to the nearest cent as needed.) The APY for the account is approximately 3.46 % (Round to two decimal places as needed.)

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