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Find the apy for the account

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Question 1: Use the formula for continuous compounding to compute the balance in the account after? 1, 5, and 20 years.? Also, find the APY for the account.

A ?$9000 deposit in an account with an APR of 4.1?%.

Problem 1: The balance in the account after 1 year is approximately ?$________ (Round to the nearest cent as? needed.)

Problem 2: The balance in the account after 5 years is approximately ?$________ ?(Round to the nearest cent as? needed.)

Problem 3: The balance in the account after 20 years is approximately ?$______ (Round to the nearest cent as? needed.)

Problem 4: The APY for the account is approximately ____?% ?(Round to two decimal places as? needed.)

Reference no: EM132462755

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