Question

You invest $2,600 in an account that pays and interest rate of 8.25%, compounded continuously.

calculate the balance of your account after 5 years. round your answer to the nearest hundredth.

Answer 1

The formula is
A=pe^rt
A future value?
P present value 2600
R interest rate 0.0825
T time 5 years

A=2,600×e^(0.0825×5)
A=3,927.53