document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1075874>Question 1075874</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Bill invests $7000 in a savings account that compounds interest quarterly at an APR at 4.7%. Ted invests $7000 in a savings account that compounds interest continuously at an APR 4.7%. Who will have the larger accumulated balance after 10 years? \r<BR>\n" );
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document.write( "I would really appreciate being walked through this problem, thank you! </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #690530 by </B><A HREF=/tutors/aboutme.mpl?userid=jorel1380><B>jorel1380(3719)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jorel1380><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=jorel1380><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=690530\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> $7000 at 4.7%, compounded quarterly equals:<BR>\n" );
document.write( "7000 x (1+(.047/4)^(10x4)=7000 x 1.5956165143929241851680262678313=$11169.3156 at the end of 10 years.<BR>\n" );
document.write( "$7000 at 4.7% compounded continuously equals:<BR>\n" );
document.write( "(7000 x (e^(.047x10)))=11199.95935252152168768915032418, or $11199.95935 accumulated balance at the end of 10 years. <BR>\n" );
document.write( "The continuously compounded account will have more money in it at the end. &#9786;&#9786;&#9786;&#9786; </SPAN>\n" );
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