posted by Anil .
$7,000 is invested into two accounts: 4,000 into an account paying 5% interest compounded monthly and
$3,000 into an account paying 4.1% interest compounded continuously.
compute the total interest earned at the end of 2 years.
The formulas you require can be found here:
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amount of first = 4000(1 + .05/12)^24 = 4419.76
amount in 2nd = 3000 e^(2(.05)) = 3315.51