Please provide detailed answers
You local bank quotes you an interest rate of 9% compounded monthly.
A) If you deposit $100 today, what amount will your deposit grow to in three months? How about in one year?
B) Suppose that the interest rate is now specified as 9% continuously compounded. How much will $100 grow after three months? After three years?
C) What is the simple annual interest that is equivalent to 9% continuously compounded?