SOLUTION: Take the current amount you have in your checking or savings account. Suppose you have a choice of keeping your money for five years in a savings account with a 2% interest rate,
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Question 173259: Take the current amount you have in your checking or savings account. Suppose you have a choice of keeping your money for five years in a savings account with a 2% interest rate, or in a five year certificate of deposit with and interest rate of 4.5%. Calculate how much interest you would earn with each option over five years time with continuous compounding. Answer by nycsub_teacher(90) (Show Source):
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http://cs.selu.edu/~rbyrd/math/continuous/
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