How much would $500 invested at 5% interest compounded continuously be worth after 8 years? Round your answer to the nearest cent. A(t)=p•e^rt

Question

asked May 5, 2020 53.8k views

1 Answer

Debbieann · Answer 1 · 2020-05-11T23:16:48+0000

Answer:

A = $746 (rounded up to nearest cent)

Explanation:

A = P
e^(rt)

A = $500 ×
e^(0.05(8)) = $745.9123488 or $746 (rounded up to nearest cent)