Question

Ceasar opens a bank account and makes an initial deposit of $800. The banker tells Ceasar that he is going to receive an annual rate of 10% compounded continuously on his investment. Find the bank balance assuming Ceasar leaves the account untouched for 8 years. asnwer this question using the fomula A(t) = Pe^(rt). please show work plese

Answer 1

Initial Deposit= $800

Annual rate= .1%

Leaves= 8 years

8 x .1= .8

$800 x .8= $640

$800+$640= $1,440

So your answer is $1,440 is the bank balance in 8 years

Explanation:

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