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A person deposits money continuously into an account, which pays 2% interest compounded continuously, at a rate of $1 100 per year for 16 years.
A person deposits money continuously into an account, which pays 2% interest compounded continuously, at a rate of $1 100 per year for 16 years. Round your answers to two decimal places (a) Calculate the balance in the account at the end of the 16 years. (b) Calculate the amount of money actually deposited into the account. (c) Calculate the interest earned during the 16 years. Click if you would like to Show Work for this question: Open Show Work
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