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An account pays interest at a continuously compounded rate of 0.05 per year. Continuous deposits are made to the account at a rate of 1000
An account pays interest at a continuously compounded rate of 0.05 per year. Continuous deposits are made to the account at a rate of 1000 per year for 6 years, and then at a rate of 2000 per year for the next 4 years. What is the account balance at the end of 10 years?
I know the answer is 17402.48, but I do not see how to get there. This is about continuously payable annuities annuities in financial mathematics.
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