SOLUTION: Please help me with this problem. I have tried it over and over and the answer I keep coming up with is 18000. $3000 is deposited in an account that pays 5% annual interest for

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: Please help me with this problem. I have tried it over and over and the answer I keep coming up with is 18000. $3000 is deposited in an account that pays 5% annual interest for       Log On


   

Question 1035675: Please help me with this problem. I have tried it over and over and the answer I keep coming up with is 18000.
$3000 is deposited in an account that pays 5% annual interest for 10 years. How much more would be in the account if the interest were compound continuously rather than quarterly?
Answer by Alan3354(69443) About Me  (Show Source):
You can put this solution on YOUR website!
Please help me with this problem. I have tried it over and over and the answer I keep coming up with is 18000.
$3000 is deposited in an account that pays 5% annual interest for 10 years. How much more would be in the account if the interest were compound continuously rather than quarterly?
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You found it's $18000 more?
Show how you did that.