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12. The principal represents an amount of money deposited in a savings account subject to continuously compounded interest at the given rate. Find out how
12. The principal represents an amount of money deposited in a savings account subject to continuously compounded interest at the given rate. Find out how much money will be in the account after the given number of years. (1 mark each) Principal Rate Time a) $11,000 6% 2 years b) $5500 4.8% 5 years 13. How much money should be deposited in an account that can earn 6% compounded semiannually so that it will accumulate to $12,000 in 3 years? (1 mark)
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