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(Solved): Annuity A deposit of P dollars is made at the beginning of each month in an account earning an annu ...
Annuity A deposit of P dollars is made at the beginning of each month in an account earning an annual interest rate r, compounded continuously. The balance A after t years is given by A=Per/12+Pe2r/12+?+Pe12tr/12. Show that the balance is given by A=er/12?1Per/12(ert?1)?