Question

Suppose you invest $7500 at an annual interest rate of 4.2% compounded continuously. How much will you have in the account after 2 years? Round the solution to the nearest dollar.

$17,373

$8158

$8157

$17,372

Answer 1

$ 8157

Explanation:

7500 e^.042(2) = 8157.22 ~ 8157