amirabulla amirabulla

19-07-2017
Mathematics

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you invest 2,600 in an account that pays an interest rate of 8.5% compounded continuously. Calculate the balance of your account after 5 years

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Aliwohaish12 Aliwohaish12

19-07-2017

The formula is
A=p e^rt
A future value?
P present value 2600
R interest rate 0.085
T time 5years
E constant
A=2,600×e^(0.085×5)
A=3,976.94

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