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Business, 25.11.2021 07:00 Liannahiggins

Suppose that $11,000 is invested in a savings account paying 5.8% interest per year. (a) Write the formula for the amount A in the account after t years if interest is compounded monthly. A(t) = (b) Find the amount in the account after 3 years if interest is compounded daily. (Round your answer to two decimal places.) (c) How long will it take for the amount in the account to grow to $20,000 if interest is compounded continuously? (Round your answer to two decimal places.) yr

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Suppose that $11,000 is invested in a savings account paying 5.8% interest per year. (a) Write the f...
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