Chapter 4 - Exponential Functions - 4.4 Applications to Compound Interest - Exercises and Problems for Section 4.4 - Exercises and Problems - Page 167: 9

a) $\$ 525.00$ b) $\$ 525.62$ c) $\$ 525.64$

(a) The interest rate per year is $0.05/ 1$. Therefore, the account balance is $$S= 500\left(1+\frac{0.05}{1}\right)^{1}= \$ 525.00$$ (b) The interest rate per week is $0.05 / 52$. Therefore, the account balance is $$S= 500\left(1+\frac{0.05}{52}\right)^{52}= \$ 525.62$$ (c) The interest rate per week is $0.05/ 525600$. Therefore, the account balance is $$S= 500\left(1+\frac{0.05}{525600}\right)^{525600}= \$ 525.64$$