Question

find the amount accumulated after investing a principal p for t years at an interest rate r. P=$460,t=9,r=6% compounded continiously. What is the equation or how do i solve this

Answer 1

The correct formula is as follows:
\[\large A=Pe^{rt}\]
where A is the amount after t years, P is the principal, r is the annual interest rate expressed as a decimal, and e is the exponential number.