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Algebra
Pregunta

(2.4) Now assume the growth of the account is not ...

(2.4) Now assume the growth of the account is not discrete ( \( 12 \) compounding per year), but instead grows continuously. If your client did NOT add any monthly contributions to the \( 401 K \) account, what will the initial value of \( \$ 5,900 \) grow to after \( 10 \) years. DO NOT DO ANY INTERMEDIATE ROUNDING OR YOUR ANSWER MAY BE MARKED WRONG. Answer \( = \$ \$ \) (Round to two places) Compare this to your answer with \( 12 \) compounding periods per year. Is the difference between the two types of compounding (discrete vs. continuous) very different? 

Answer

\(5900\times (1+ x)^{10\times12}\)

Solución
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