Question

2. Find the amount in an account where $500 is invested at 2.5% compounded continuously for a period of 10 years

Answer 1

A = 642.01

Explanation:

Given:

P = 500

r = 2.5% or 0.025

t = 10

Work:

`A=Pe^(rt)\\\\A=500e^(0.025*10)\\\\A=500e^(0.25)\\\\A=642.01`