Question

Suppose you invest $2500 at an annual interest rate of 3% compounded continously. How much will you have in the account after 7 years.

Answer 1

Pert should work fine

Answer 2

\[A=Pe^{rt}\]
\[A=2500~e^{.03*7}\]

Answer 3

here is an example if you want to check it out...
http://cs.selu.edu/~rbyrd/math/continuous/

Answer 4

I got $3084.20

Answer 5

http://www.miniwebtool.com/continuous-compounding-calculator/

Answer 6

that is correct

Answer 7

A=2500(2.718)^0.07(7)
A=2500(2.718)^0.21
A=2500(1.23367806)
A=3084.20?

Answer 8

thanks

Answer 9

should be .03(7)

Answer 10

yeah you are right

Answer 11

:)