Find the amount in a continuously compounded account for the given conditions. principal: $250 annual interest rate: 6.2% time: 2.5 years

Question

asked Nov 14, 2020 82.7k views

1 Answer

MEM · Answer 1 · 2020-11-20T23:02:03+0000

Answer:

$291.91

Explanation:

Put the given numbers into the formula and do the arithmetic.

... A = Pe^(rt)

... A = $250·e^(0.062·2.5) ≈ $291.91