document.write( "Question 198435: You desposit $5000 in an account that pays 7% annual interest compounded continuously. What is the balance after 2 years? \n" ); document.write( "
Algebra.Com's Answer #148939 by Alan3354(69443)![]() ![]() You can put this solution on YOUR website! FV = $5000*(1.07)^2 compounded annually \n" ); document.write( "= $5724.50 \n" ); document.write( "------------- \n" ); document.write( "FV = $5000*e^(.07*2) \n" ); document.write( "FV = $5751.37 compounded continuously \n" ); document.write( " |