Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20 years. Also, find the APY for the account. A $16,000 deposit in an account with an APR of 3.5%. The balance in the account after 1 year is approximately $ (Round to the nearest cent as needed.) The balance in the account after 5 years is approximately $ (Round to the nearest cent as needed.) The balance in the account after 20 years is approximately $ (Round to the nearest cent as needed.) % The APY for the account is approximately (Round to two decimal places as needed.)