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Use the appropriate compound interest formula to find the amount that will be in each account, given the stated conditions.$\$ 27,500$ invested at $0.95 \%$ annual interest for 5 years compounded (a) daily $(n=365) ; \quad$ (b) continuously

(a) $\$ 28,837.75$(b) $\$ 28,837.77$

Algebra

Chapter 6

Inverse, Exponential, and Logarithmic Functions

Section 2

Exponential Functions

Functions

Exponential and Logarithmic Functions

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this question were given account that has compounded into different ways. And so we ask roughly how much a has after five years the first ones compound daily. So I'd say that a is equal turn initial value of 9500 times one plus a rate, which is 0.95% or 0.95 over the mountain time just compounded which, stirring to 65 races 365 times a amount of time, which is five years. So that will get us $28,837.75 report be. Is this compound continuously? So we know we will or than stated principle value each or rate, which is er 10095 have a time, which is five. And so then that will get us. The monarch count after five years is $20,837 in 77 cents. So these are answers

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