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Calculate how much money Carlos has after 4 years if he originally invested $3675 at 8.3% compounded continuously. Use Pe rt, where A is the final amount, P is the original amount deposited, r is the interest rate, and t is the number of years.

1 Answer

4 votes

Answer:

$5122.04

Explanation:

Continous interest formula:


P*e^(rt)=A

we have


3675*e^(4*.083)\\3675*1.39375284861\\5122.04171828

Which rounds to

5122.04

User Omar Abdelrazik
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