SOLUTION: A deposit of 9000 euros is put into an account earning interest at the annual rate of 8% a) with
interest paid quarterly; b) with interest compounded continuously. How much will t
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interest paid quarterly; b) with interest compounded continuously. How much will t
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Question 938351: A deposit of 9000 euros is put into an account earning interest at the annual rate of 8% a) with
interest paid quarterly; b) with interest compounded continuously. How much will there be in the account
after 9 years?
Thank you Answer by ewatrrr(24785) (Show Source):
You can put this solution on YOUR website! In General for compounding Interest
A = Accumulated Amount
P= principal =
r= annual rate = .08
n= periods per year =
t= years = 9yr
...
a)
...
b) A = P e ^(rt) = 9000e^(.08*9 )
