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October 25, 2014

Homework Help: Calc

Posted by James on Tuesday, April 8, 2008 at 8:22pm.

A person deposits money into a retirement account, which pays 7% interest compounded continuously, at a rate of $1000 per year for 20 years. Calculate:

a. The balance of the account at the end of 20 years

b. the amount of money actually deposited into the account

c. the interest earned during the 20 years.

I think i know that for part a you use the integral to find the future value maybe, but i have no idea how to do b or c

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