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3. Prisha is going to invest $1000 into a surefire investment John, who she just met at Starbucks, told her about. He promises a return
3. Prisha is going to invest $1000 into a surefire investment John, who she just met at Starbucks, told her about. He promises a return of 21% every year. (a) Let t be equal to the amount of years she expects to keep her money in the account. Use the compounded interest formula A=P(1+)nt to find a formula for expected annual profit if John gives her 21% of her account balance at the end of every year i.e. n=1. (b) How much money is she expecting after 5 years? () John lied. When she checked her account after a year her account only had $300 in it. Assuming a continuous draining of funds, figure out the continuous rate at which John emptied her account using the formula A= Pert
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