Suppose you deposit $3000 in an account paying 2% annual interest, compounded continuously. Use A=Pe

Discussion in 'Calculator Requests' started by math_celebrity, May 4, 2019.

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  1. math_celebrity

    math_celebrity Administrator Staff Member

    Suppose you deposit $3000 in an account paying 2% annual interest, compounded continuously. Use A=Pert to find the balance after 5 years.

    A = $3,000 * e^0.02(5)
    A = $3,000 * e^0.1
    A = $3,000 * 1.105171
    A = $3,315.51
     
    math_celebrity, May 4, 2019
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