Question

Find the final amount of a $2500 investment after 8 years at %6 interest, compounded continuously

Answer 1

I have attached the continuously compounded interest formula.

Total = Principal * e ^ (rate * years)

Total = 2,500 * 2.718281828459 ^ (.06 * 8)

Total = 2,500 * 2.718281828459 ^ (.48)

Total = 2,500 * 1.6160744022

Total = 4,040.19

Explanation: