May has $2100 in her bank account right now. She wanted to know how much...
60.1K
Verified Solution
Link Copied!
Question
Accounting
May has $2100 in her bank account right now. She wanted to know how much it would be in one year, so the calculated and came up with $2233 09. Then, My realed the had made the the formula for monthly compounding, but instead, used the continuous compounding formula Redo the action for May, and find out how much will the counter May will have in her account a year from now when using the formula for monthly compounding (Round the final answer to two decimal places as needed. Round all intermedio esto se ciles as needet)
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!