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A1: Adam has $1,000 in the bank right now, in an account which pays 5 % interest (compounded continuously). At what (continuous) rate, rounded to
A1: Adam has $1,000 in the bank right now, in an account which pays 5 % interest (compounded continuously). At what (continuous) rate, rounded to the nearest dollar, does Adam need to deposit money into the account in order to have $20,000 after 20 years? A) $582 per year C) $318 per year E) none of the above B) $503 per year D) $101 per year
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