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Do Homework Savannah David -Google Chrome || Secure l https://www.mathxl.com/Student/PlayerHomework.aspx?homewod MGF 1105 Home vork: Section 13.1 Homeworl Score: 0 of 1 pt 4 of 10 (4 c 13.1.25 For a deposit of $1017 at 5.3% over 2 years, find the interest earned if interest is co The interest earned if interest is compounded semiannually is $ 112.16 (Type an integer or decimal rounded to the nearest cent as needed.) The interest earned if interest is compounded quarterly is $ 112.94 (Type an integer or decimal rounded to the nearest cent as needed.) The interest earned if interest is compounded monthly is $ 113.46 (Type an integer or decimal rounded to the nearest cent as needed.) The interest earned if interest is compounded daily is $ 113.71 (Type an integer or decimal rounded to the nearest cent as needed.) The interest earned if interest is compounded continuously is S (Type an integer or decimal rounded to the nearest cent as needed) Enter your answer in the answer box and then click Check Answer All parts showing

Explanation / Answer

The starting 4 questions you have done correctly.

Part 5. when compounded continously

Final Amount = P ert

where P = $ 1017

t = 2 years

r = 5.3%

so final amount A = 1017 * e2 * 0.053 =$ 1130.72

Interest = $ 1130.72 - $1017 = $ 113.72

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