A. use the formula for continuous compounding with the original example: $1000 invested at 2% for 1 year. record the amount to 5 decimal places. use a calculator. b. compare it to the result using the original compound interest formula with n = 365 calculated to 5 decimal places. which has a larger value? explain.
Jenny borrowed $500 for five years at 4 percent interest, compounded annually. what is the total amount she will have paid when she pays off the loan? total amount = p (1 + i)t a. $608.33 b. $729.99 c. $765.77 reset next