How much would $700 be worth after 8 years, if it were invested 5% interest compounded continously? (Use the formula below and round your answer to the nearest cent.)

A(t)=P*e^rt

A. $1044.28
B. $5887.12
C. $6432.11
D. $38,218.71

Question

How much would $700 be worth after 8 years, if it were invested 5% interest compounded continously? (Use the formula below and round your answer to the nearest cent.)

A(t)=P*e^rt

A. $1044.28
B. $5887.12
C. $6432.11
D. $38,218.71

nnesha · Answer

p= initial amount 
r = interest rate  ( change percent to decimal )
t= time years

nnesha · Answer

$$\huge\rm A(t)= Pe^{rt}$$
p= 700
t=8
r= 5/100
replace variables by their values & thn use calculator! :-)