Question

If $3500 is invested at an interest rate of 7.25% per year, compounded continuously, find the value of the investment after the given number of years. (Round your answers to the nearest cent.)

Answer 1

Due to not knowing the given number of years, let's assume that the money has been in the bank for one year. After 1 year you would have $253.75. To get the final answer, multiply "y" (years) by 253.75 for your answer.

y X 253.75 =____