write the appropriate formula, show all steps, and label final answers as appropriate

Question

you deposit $5000 in an investment account that pays 4.75%

a. how much will the accumulated amount in the account be, if the money is invested for 10 years, and if the interest is compounded monthly?

b. how much will the accumulated amount in the account be, if the money is invested for 10 years, and if the interest is compounded continuously?

c. if the interest is compounded continuously, how long will it take your initial investment to double?

Answer 1

A = 5000(1 + 0.0475/12)^(12)(10)

A = 500oe^(10)(0.0475)

2 = e^0.0475t