Question

Help please?? If you deposit $750 in an account that pays 8% annual interest compounded continuously, what will the balance be after five years?

Answer 1

The formula of a continuous compound interest is
A=p e^rt
A the balance?
P present value 750
E constant
R interest rate 0.08
T time 5 years
A=750×e^(0.08×5)
A=1,118.87