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Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20 years. Also, nd the APY for the

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Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20 years. Also, nd the APY for the account. A $12,000 deposit in an account with an APR of 2.5%. The balance in the account after 1 year is approximately 3; (Round to the nearest cent as needed.)

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