A bank pays interest by continuous compounding, that is, by treatin...

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A bank pays interest by continuous compounding, that is, by treating the interest rate as the instantaneous rate of change of the 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 \( \left.e^{\cdot 08} \cong 1 \cdot 0833\right] \)
\( \mathrm{P} \)
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