You invest $500 in an account with an annual interest rate of 1.1%, compounded continuously. How much money is in the account after 10 years? Round your answer to the nearest whole number..

Question

anonymous · Answer

Formula for Computing Continuously Compounded Interest
$$A=Pe ^{rt}$$
P=Principal invested
r=annual rate compounded continuously
A= amount at the end of 
t= certain time in years
e=constant (irrational number which is roughly 2.718...)

So... P=$500, r=0.011 t=10 plug & calculate to get your A