Question

See question in screenshot below:

I only need the compounded continuously amount (the last question marked with an x).

Answer 1

Answer: 6529.26

=================================================

Work Shown:

`A = P*e^(rt)\\\\A = 4000*e^(0.07*7)\\\\A \approx 6529.26487982264\\\\A \approx 6529.26`

-----------

Step-by-step explanation:

• P = deposit amount = 4000 dollars
• e = special constant equal to roughly 2.718...
• r = annual interest rate in decimal form = 0.07
• t = number of years = 7

Let your calculator handle the constant 'e's value, rather than typing in the numbers 2.718... so you can get the most accuracy possible. It's like how many calculators have a
`\pi` button for similar reasoning. If your calculator doesn't have an 'e' button, then this should be sufficient

e = 2.71828182846

By the way, it's a bit odd how your teacher didn't require you to round to the nearest cent. Something like 6423.12590591 should round to 6423.13