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A person deposits money into a retirement account, which pays 5% interest per year compounded continuously, at a rate of $5000 per year for 15
A person deposits money into a retirement account, which pays 5% interest per year compounded continuously, at a rate of $5000 per year for 15 years. Calculate:
(a) The balance in the account at the end of the 15 years.
The balance will be $ .
(b) The amount of money actually deposited into the account.
$
(c) The interest earned during the 15 years.
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