Martinez Tyler
07/28/2024 · High School
se the appropriate compound interest formula to find the amount that will be in each account, given the stated conditions. \( \$ 26,000 \) invested at \( 3.95 \% \) annual interest lor 2 yeas ) daily ( \( \mathrm{n}=365 \) ); (b) continuously a) The amount that \( \$ 26,000 \) invested at \( 3.95 \% \) annual interest for 2 years compounded daily ( \( n=365 \) ) is \( \$ 28,164.34 \) Round to the nearest cent as needed.) (b) The amount that \( \$ 26,000 \) invested at \( 3.95 \% \) annual interest for 2 years compounded continuously is \( \$ 28,113.20 \) (Round to the nearest cent as needed.)
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The amount after 2 years is \( \$ 28,164.34 \) when compounded daily and \( \$ 28,113.20 \) when compounded continuously.
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