If you were to place 2500 in a savings account that pays 5% interest compounded continuously, how much money will you have after 10 years

Question

asked Mar 3, 2018 13.3k views

1 Answer

Abbood · Answer 1 · 2018-03-08T16:45:21+0000

The formula is
A=p e^rt
A future value?
P present value 2500
E constant
R interest rate 0.05
T time 10 years
A=2,500×e^(0.05×10)
A=4,121.80