Solution-Determining the annual interest

Determining the annual interest

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Reference no: EM131396902

You deposit $5000 into an account that earns 8% compounded annually. A friend deposits $4250 into an account that earns 7.95% annual interest, compounded continuously. Will your friend's balance ever equal yours? If so, when? If not, enter NEVER

Reference no: EM131396902

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Determining the annual interest : You deposit $5000 into an account that earns 8% compounded annually. A friend deposits $4250 into an account that earns 7.95% annual interest, compounded continuously. Will your friend's balance ever equal yours? If so, when? If not, enter NEVER

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Determining the annual interest

Reference no: EM131396902

Reference no: EM131396902

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