Suppose you invest $2500 at an annual interest rate of 3% compounded continuously. How much will you have in the account after 7 years? Round the solution to the nearest dollar. The steps for this would be great, thanks!

Question

anonymous · Answer

$$A=Pe ^{rt}$$
P=2500
e=2.718
r=0.03
t=7
A=2500(2.718)[^{0.03(7)}\]
A=2500(2.718)[^{0.21}\]
A=2500(1.23367806)
A=3084.20 
So the answer is 3084 because you need to round to the nerest dollar