24. The balance B of a savings account after t years when a principal P is invested...

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24. The balance B of a savings account after t years when a principal P is invested at an annual interest rate r and the interest is compounded yearly is given by

. If the interest is compounded continuously the balance is given by . In one account $20,000 is invested for 18 years in an account where the interest is compounded yearly. In a second account $5,000 is invested in an account in which the interest is compounded continuously. In both accounts the interest rate is 8.5%. Use MATLAB to determine how long in years and days (e.g. 17 years and 251 days) it would take for the balance in the second account to be the same as the balance of the first account after 18 years.

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