Question

suppose you invest 1050 at an annual interest rate of 5.5% compounded continuously. How much will you have in the account after 5 years? round the solution to the nearest dollar. HELP please

Answer 1

P=I/RT

Answer 2

A=P(1+r/n)^tn

P = principal amount (the initial amount you borrow or deposit - $1050)
r = annual rate of interest (in decimal - .055)
t = number of years the amount is deposited or borrowed for.
n = number of times the interest is compounded per year