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If $6,000 is invested in a bank account at an interest rate of 9 per cent per year, find the amount in the bank after 5 years if interest is compounded annually, quarterly, monthly, and continuously.

Sagot :

Answer:

annual -  $9,231.74  

quarterly - $9,363.06  

monthly -  $9,394.09  

continuously -$9,409.87  

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