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Matt invested $300 into an account that had an annual interest rate of 3.8% compounded monthly for 5 years. Chris invested $350 into an
Matt invested $300 into an account that had an annual interest rate of 3.8% compounded monthly for 5 years. Chris invested $350 into an account that had an annual interest rate of 3.5% compounded continuously for 5 years. Determine which models could be used to determine how much money would be in each account after 5 years. Matt: A = 300 (1+0.038) 60 12 Chris: A 350e(0.035-5) Matt: A = 300e(0.038.5) Chris: A = 350(1+0.35)5 Matt: A = 300 (1+3) Chris: A 350e(3.5-5) Matt: A = 300(1+0.02) 60 Chris: A 350e(0.35-5)
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