Comparison of compound methods: An initial deposit of $30,000 grows at an anual rate of 8% for 20 years. Compare the final balances from anual compounding and continuous compounding.
Determining the Initial deposit: An account now contains $11,180 and has been accumulating interest for 7% anual interest, compounded continously, for 7 years. Find the initial deposit.
Determining the Initial deposit: An account now contains $11,180 and has been accumulating interest for 7% anual interest, compounded continously, for 7 years. Find the initial deposit.