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Find how much interest would earn with option over five year

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.

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Mathematics: Find how much interest would earn with option over five year

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Solution Preview :

Prepared by a verified Expert

Mathematics: Find how much interest would earn with option over five year

Reference No:- TGS0698152

Have a Question? (oR Write a Review)

Recent Questions Asked Mathematics

Q : Designing a motor cycle

Q : Determine the x- and y-component of the acceleration

Q : How long does one read each week

Q : Determining the current in a capacitor

Q : Find how much interest would earn with option over five year

Q : Find the ratio of the wavelength of the light

Q : How the adjusting process is used

Q : Write equation of line to model the growth of direct deposit

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Solution Preview :

Prepared by a verified Expert

Mathematics: Find how much interest would earn with option over five year

Reference No:- TGS0698152

Recent Questions Asked Mathematics

Q : Designing a motor cycle

Q : Determine the x- and y-component of the acceleration

Q : How long does one read each week

Q : Determining the current in a capacitor

Q : Find how much interest would earn with option over five year

Q : Find the ratio of the wavelength of the light

Q : How the adjusting process is used

Q : Write equation of line to model the growth of direct deposit

Q : Explain the original cost of the asset

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