What rate is the money in this account growing

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Reference no: EM131182884

The future value that accrues when $500 is invested at 5%, compounded continuously, is S(t) = 500e^0.05t where t is the number of years. (Round your answers to the nearest cent.)

(a) At what rate is the money in this account growing when t = 4? $ per year

(b) At what rate is it growing when t = 10? $ per year.

Reference no: EM131182884

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