Question

You deposit $3000 in an account that pays 5% annual interest compounded continuously. What is the balance after 2 years?

Answer 1

Y=3×2 with exponent ×-3

Answer 2

Y=(3\4)exponent ×

Answer 3

Y=(3\4)exponent ×

Answer 4

you are absolutely right, but then why did you use 3/4?

Answer 5

so what is going to be the principal in this case?

Answer 6

P = 3000
r = 5%
t = 2

Therefore ...

\[A = 3000e^{0.05\times2} \]

Answer 7

Solve for a