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Use the formula 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.

Upper A ?$7000 deposit in an account with an APR of 5?%.

Problem 1 year is approximately ?$ 7358.90 ?(Round to the nearest cent as? needed.)

Problem 5 years is approximately ?$____ ?(Round to the nearest cent as? needed.)

Problem 20 years is approximately $_________

Reference no: EM132462787

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