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1 ) You want to save up $ 1 0 0 , 0 0 0 and you find an broker advertising an account with 5

1) You want to save up $100,000 and you find an broker advertising an account with 5.5% nominal interest compounded continuously.a. What is the annual growth factor?b. What is the APY (aka annual percentage change)?c. Suppose you invest P dollars in this account Write a function A(t) that gives the amount in the account after t years.d. What is the 5-year growth factor of this investment?e. If you want to withdraw $100,000 in five years, how much should you initially invest in the account?f. Set up an equation to find out how long it will take to have $100,000 dollars if you initially invest $30,000. Solve via graphing.2) What is the better investment: an account with 5.6% APR compounded continuously, or an account with 5.65% APR compounded quarterly? Justify your answer with calculations.

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