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Savings Account An amount of money deposited in a savings account grows at a rate proportional to the amount present. (It can be shown that
Savings Account An amount of money deposited in a savings account grows at a rate proportional to the amount present. (It can be shown that an amou of money grows in this manner if it earns interest compounded continuously.) Suppose $19,000 is deposited in an account earning interest at the rate of 4%/ year compounded continuously. (a) What is the accumulated amount (in dollars) after 5 years? (Round your answer to the nearest cent.) $ (b) How long (in years) does it take for the original deposit to double in value? (Round your answer to one decimal place.) yr
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