Chapter 4 - Exponential Functions - 4.4 Applications to Compound Interest - Exercises and Problems for Section 4.4 - Exercises and Problems - Page 167: 10

a) $\$ 540.00$ b) $\$ 541.61$ c) $\$ 541.64$

(a) The interest rate per year is $0.08/ 1$. Therefore, the account balance is $$S= 500\left(1+\frac{0.08}{1}\right)^{1}= \$ 540.00$$ (b) The interest rate per week is $0.08 / 52$. Therefore, the account balance is $$S= 500\left(1+\frac{0.08}{52}\right)^{52}= \$ 541.61$$ (c) The interest rate per week is $0.08/ 525600$. Therefore, the account balance is $$S= 500\left(1+\frac{0.08}{525600}\right)^{525600}= \$ 541.64$$