Question

If you invest $10,000 at an annual interest rate of 5% compounded continuously, calculate the final

amount you will have in the account after ten years.

Answer 1

$15,000

Explanation:

to calculate the percentage of a number you put the percentag over 100 and multiply by the number, so in this case 5% of 10,000 is 5/100 × 10,000 which equals $500. You then multiply that annual income by the amount of years (which in this case is 10) we then get $50,