1 answer

Problem 1.10 You deposit $5,000 in an account that earns 5% interest compounded annually in years...

Question:

Problem 1.10 You deposit $5,000 in an account that earns 5% interest compounded annually in years 1 and 2, and thereafter a continuous rate δ(t) 2/(t + 1) (t > 0). What is the value of the account after 5 years?

Problem 1.10 You deposit $5,000 in an account that earns 5% interest compounded annually in years 1 and 2, and thereafter a continuous rate δ(t) 2/(t + 1) (t > 0). What is the value of the account after 5 years?

Answers

Answer=

Deposit= 5000

rate =5%

amount= deposit(1+r/n)n

5000(1+0.05)5=6381 approx.

.

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