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On July 1 2001 a savings account has 1000 This account earns interest at an...

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Algebra

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On July 1 2001 a savings account has 1000 This account earns interest at an annual rate of 4 compounded continuously A competing bank is attempting to attract new customers by offering to add 20 immediately to any new account opened with a minimum 1000 deposit and the new account would earn interest at the annual rate of 4 compounded semiannually To choose one of the following three options on July 1 2001 find the accumulated amount July 1 2003 for each option in parts a through c below a Leave the money at the first bank The accumulated amount is Do not round until the final answer Then round to the nearest cent as needed

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