Question

$750 is deposited in an account with 8%

interest rate, compounded continuously.
What is the balance after 6 years?
F = $[?]
Round to the nearest cent.

Answer 1

`~~~~~~ \textit{Continuously Compounding Interest Earned Amount} \\\\ A=Pe^(rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$750\\ r=rate\to 8\%\to (8)/(100)\dotfill &0.08\\ t=years\dotfill &6 \end{cases} \\\\\\ A = 750e^(0.08\cdot 6)\implies A=750e^(0.48) \implies A \approx 1212.06`