Question

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

Answer 1

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)