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Compute how much interest you would earn

Problem:

I have 5,000 dollars in my savings account. If I choose to keep my money for five years in a savings account with a 2% interest rate or in a five year certificate of deposit with and interest rate of 4.5%.

Calculate how much interest you would earn with each option over five years time with continuous compounding.

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Finance Basics: Compute how much interest you would earn

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Finance Basics: Compute how much interest you would earn

Reference No:- TGS02039483

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