Use the formula below to find the value of $1300 invested at 4.2% interest compounded continuously for 5 years, 9 months. Round your final answer to the nearest hundredth, or cent, and show your work. Use .

Question

Use the formula below to find the value of $1300 invested at 4.2% interest compounded continuously for 5 years, 9 months. Round your final answer to the nearest hundredth, or cent, and show your work. Use  .

bellator_mortem · Answer

I'm going to guess you mean the continuous compound interest formula? $$A=Pe ^{rt}$$
A= Amount after time t
P= Principle Amount 
r=Annual interest rate (decimal)
t= number of years
e= Napier's number (base of the natural logarithm) which is approximately 2.7183. (most calculators have a button for it)

If this is the formula you were referring to and you still need help with the working let me know.