An initial deposit of $5000 grows at an annual rate of 8.9% for 5 years. Compare the final balances resulting from annual compounding and continuous compounding. Please round the answers to the nearest cent. $__________ from annual compounding. $__________ from continuous compounding.

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The Answer of An initial deposit of $5000 grows at an annual rate of 8.9% for 5 years. Compare the final balances resulting from annual compounding and continuous compounding. Please round the answers to the nearest cent. $__________ from annual compounding. $__________ from continuous compounding.

An Initial Deposit of $5000 Grows at an Annual Rate