SOLUTION: you deposit $2500 in an account that pays 6% annual interest. first write an exponential growth model for the balance of the account. after 4 years, find the balance for the follow

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Question 855234: you deposit $2500 in an account that pays 6% annual interest. first write an exponential growth model for the balance of the account. after 4 years, find the balance for the following situations:
Exponential growth model
compounded yearly
compounded monthly
compounded daily
compounded continuously
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!
 

Hi,

 In General 

compounded:

annually 

monthly  

daily    

continuously         

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