Question

Juan invested $3,100 in an account paying an interest rate of 3.6% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 19 years?

Answer 1

A=6143.54( to the nearest dollar A=6144)

Explanation:

A=Pe^(r(t))

P=3100 r=0.036 t=19

A=3100e^0.036(19)

A=3100e^(0.684)