If you deposit $750 in an account that pays 8% annual interest compounded continuously, what will the balance be after five years?

Question

anonymous · Answer

I believe $1,050. 750*.08=60, 60*5=300, then 300+750=1050.

anonymous · Answer

@B.Sanders, can I have a medal? I think that it's right.

anonymous · Answer

It's not right thats not in my answer choices.

anonymous · Answer

Oh, I made a mistake.

anonymous · Answer

A. $29,803.91
B. $1,832.06
C. $1,277.16
D. $1,118.87

anonymous · Answer

Wait just a sec.

anonymous · Answer

I keep losing track. Just multiply the amount by .08. Then you use that total and do the same thing five times. That will equal five ears. Sorry I have to leave.

anonymous · Answer

Do you get it? If not try asking somebody else.

anonymous · Answer

Sorry.

anonymous · Answer

Yea I thought thats how you were suppose to do it to but it dont come out to any of the answer choices

anonymous · Answer

Ha, I just noticed my mistake. *years