Question content area top
Part 1
Use the formula for continuous compounding to compute the balance in the account after 1, 5, and 20 years. Also, find the APY for the account.
A $20 comma 000 deposit in an account with an APR of 4.75%.Question content area bottomPart 1The balance in the account after 1 year is approximately $
enter your response here.
(Round to the nearest cent as needed.)
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