SOLUTION: Can someone please help me!
4. You have $760,000 in your bank account. The interest rate in your account is 5%. Solve for the following:
a. How much interest will you acc
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4. You have $760,000 in your bank account. The interest rate in your account is 5%. Solve for the following:
a. How much interest will you acc
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Question 171517: Can someone please help me!
4. You have $760,000 in your bank account. The interest rate in your account is 5%. Solve for the following:
a. How much interest will you accumulate if interest is compounded annually over the next five years?
b. How much interest will you earn in your account over the next five years with continuous compounding?
You can use a scientific calculator or the =Exp() function in Microsoft Excel. Answer by Baron(1) (Show Source):
You can put this solution on YOUR website! a your intrest will be 43, 000
because i used a method that is very hard to explain
b you will earn 10,000 in your account over the next five years with continuos compunding.
(