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LALLOUT Trun
11)
Sam deposited $1,000 into an investment account that earns interest at a nominal annual rate of 4%, compounded continuously.
What is the average balance in the account over the first 10 y years, if Sam makes no additional deposits or withdrawals?
Remember, for continuous compounding, the balance B(t) after t years is given by an equation of the form B(t) = B, e
$1,229.56
$12,295.61
$1,339.95
D)
$13,399.53