In Exercises 117120, consider making monthly deposits of dollars in a savings account at
Chapter 9, Problem 117(choose chapter or problem)
Annuities In Exercises 117–120, consider making monthly deposits of P dollars in a savings account at an annual interest rate r. Use the results of Exercise 116 to find the balance A after t years if the interest is compounded (a) monthly and (b) continuously.
\(P=\$ 45, \quad r=3 \%, \quad t=20 \text { years }\)
Text Transcription:
P=\$ 45, r=3%,t=20years
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