Charlotte opened a savings account and depostied $300.00. The account earns 2% interest, compounded continuously. What is the balance after 2 years?

Chao Luo asked Oct 21, 2023

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40 votes

Charlotte opened a savings account and depostied $300.00. The account earns 2%

interest, compounded continuously. What is the balance after 2 years?

Chao Luo asked Oct 21, 2023

3.3k points

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14 votes

Answer:

$312.24

Explanation:

$300 {e}^(.02 * 2) = 312.24$

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