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Two accounts each began with a deposit of $10,000. Both accounts have rates of 6.5%, but one account compounds interest once a year while the other account compounds interest continuously. Make a table that shows the amount in each account and the interest earned after one year, five, years, ten years, and 20 years.

 

What is the amount in the account that Compounds Once a Year after one year?

What is the amount in the account that Compounds Once a Year after five years

What is the amount in the account that Compounds Once a Year after ten years?

What is the amount in the account that Compounds Once a Year after twenty years?

What is the amount in the account that Compounds Continuously after one year?

What is the amount in the account that Compounds Continuously after five years?

What is the amount in the account that Compounds Continuously after ten years?

What is the amount in the account that Compounds Continuously after twenty years?

 

    • 8 years ago
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