Suppose that an amount of $1600 is invested into an account that earns 3.2%compounded continuously.a)...
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Suppose that an amount of $1600 is invested into an account that earns 3.2%compounded continuously.a) How much is in the account after 7 years?b) How long does it take for the balance in the account to reach $3000?c) Suppose that after a period of four years, the balance is withdrawn and investedinto a new account that earns 4.6% compounded monthly. How much would bein that new account 7 years from now?
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