Question

You invested $4,200 into an account that pays an interest rate of 3.5% compounded continuously. What is the balance of your account in 5 years? Use formula
A=P e^rt

Answer 1

Answer:

$5,003.23

Step-by-step explanation:

A = P x e^rt

   = 4,200 x (e^0.035 x 5 )

   = $5,003.23