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OpenStudy (anonymous):
PLEASE HELP WITH THIS CALCULUS PROBLEM! Suppose that you deposit $1.00 into an account that pays 100% annually. a) How much will you have in the bank at the end of 1 year? b) Suppose that the interest is compounded twice each year. How much will you have in the bank at the end of 1 year? c) Calculate the amount in the bank at the end of 1 year with more compounding periods: 3, 4, 100. d) What number does the amount in part c) seem to be approaching, as the number of compounding periods increases. SHOW ALL WORK PLEASE!
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OpenStudy (anonymous):
For a really great explanation, refer to this thread: http://openstudy.com/study#/updates/4fa7037ee4b029e9dc366b88
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