Use the formula for continuous compounding to compute the
balance in the account after 1, 5, and 20 years. Also, find the
APY for the account. A $3000 deposit in an account with an APR of
3.6%. The balance in the account after 1 year is approximately
$_? (Round to the nearest cent as needed.) The balance in the
account after 5 years is approximately $_? (Round to the nearest
cent as needed.) The balance in the account after 20 years is
approximately $_.? (Round to the nearest cent as needed.) The
APY for the account is approximately _%? (Round to two decimal
places as needed.)