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1. a. Suppose Sam is saving up to buy a car. He deposits $5,000 into a bank account with an 8.4% interest compounded daily. How

a. Suppose Sam is saving up to buy a car. He deposits $5,000 into a bank account with an 8.4% interest compounded daily. How many years and months will it be before Dan has $10,000?

b. Now solve the same problem except that the interest is compounded continuously. Does this make a big difference?

2. Evaluate

+- 5 In (3k - K + e 3e 3h-2 h+2) 2

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