If $10,000 is invested at an annual intrest rate of 5% compounded:?

0 ⤊

A) Anually find the balance after 10 years.

B) Conituously, find the blance after 10 years.

2007-06-25 14:18:51 · 2 answers · asked by roninshinobix 1 in Science & Mathematics ➔ Mathematics

A) $10,000*1.05^10=$16,288.95

B) $10,000e^(0.05*10)=$10,000e^0.5=$16,487.21

difference is $198.26

2007-06-25 14:23:56 · answer #1 · answered by yupchagee 7 · 0⤊ 0⤋

2007-06-25 14:26:00 · answer #2 · answered by CipherMan 5 · 0⤊ 2⤋