Question

25 POINTS!

If $500 is deposited in an account paying 5.25% interest compounded continuously, find the amount in the account after 3 years. *

A $427.14
B $555.36
C $616.84
D $585.29

Answer 1

Answer:

i think it should be D.

Explanation:

Answer 2

5.25 divided by 100= 0.0525
500 times 0.0525=26.25
500-26.25=473.75
473.75 times 0.0525=24.87
473.75-24.87=448.88
448.88 times 0.0525=23.57
448.88-23.57=425.31

the answer could be A?