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April 20, 2014

Homework Help: Math

Posted by LI on Sunday, December 11, 2011 at 6:22am.

$ 2631 is deposited into an account for 15 years. Determine the accumulation if interest is 8.01 % compounded
(a) monthly, (b) daily, (c) continuously.
(Round-off your answers to the nearest cent.)

The accumulation based on

(a) monthly compounding is $ ;

(b) daily compounding is $ ;

(c) continuous compounding is $

Thanks

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