4-117. Juan deposits $5,000 into a savings account that pays 7.2% per year, continuously compounded. What is

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4-117. Juan deposits $5,000 into a savings account that pays 7.2% per year, continuously compounded. What is the effective annual interest rate? Determine the value of his account at the end of two years. (4.16)

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Engineering Economy

ISBN: 9780134870069

17th Edition

Authors: William Sullivan, Elin Wicks, C Koelling

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Question Posted: Oct 26, 2024 01:00 PM

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4-117. Juan deposits $5,000 into a savings account that pays 7.2% per year, continuously compounded. What is

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Engineering Economy

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