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A bank pays interest by continuous compo...

A bank pays interest by continuous compounding, that is ,by treating the interest rate as the instantaneous rate of change of principal. Suppose in an account interest accrues at 8% per year, compounded continuously. Calculate the percentage increase in such an account over one year. [take `e^(0. 08)~~1. 0833` ]

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The correct Answer is:
`8*33%`
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