Business

31 July, 09:33

When interest is compounded continuously, the amount of money increases at a rate proportional to the amount s present at time t, that is, ds/dt = rs, where r is the annual rate of interest. (a) find the amount of money accrued at the end of 5 years when $9000 is deposited in a savings account drawing 5 1 4 % annual interest compounded continuously. (round your answer to the nearest cent.) ?

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