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OpenStudy (anonymous):
FlybynightSavings.com is offering a savings account that pays 28% compounded continuously. How much interest would a deposit of $4,000 earn over 10 years? (Round your answer to the nearest cent.)
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OpenStudy (anonymous):
The formula for this problem is A = Pe^rt, you'd plug in 4000 for A. 1.28 for r because rate is equal to (1 + r) and 28% is 0.28. and 10 for t. 4000 = Pe^(1.28)(10) and solve for P
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