17. 3.17 Two brothers each deposited $5000 per year for 10 years into different annuity plans. Abraham

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17. 3.17 Two brothers each deposited $5000 per year for 10 years into different annuity plans. Abraham received an APY of 5%, while Mel, according to him, got a much higher rate at 5% due to continuous compounding. After 10 years, how much more did Mel have because of continuous compounding? Round to the nearest dollar amounts.

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Basics Of Engineering Economy

ISBN: 9781259683312

3rd Edition

Authors: Leland T. Blank, Anthony Tarquin

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