Jane plans to invest $500 at 8.25% interest, compounded continuously. After 14 years, how much money has she accumulated? Has her money doubled or tripled?

Question

ad7 · Answer

How much is it after the first year?

sphott51 · Answer

I don't know? I have to use a formula

ad7 · Answer

500+500 x 8.25 / 100 
Which is also
500 (1+0.0825)
The next year you get
500 (1+0.0825) (1+0.0825) = 500 (1+0.0825)^2

ad7 · Answer

500 (1+0.085)^2=500 x 1.1718

ad7 · Answer

After the 3rd year it is
500 (1+0.0825)^3,
After 14 years it is
500 (1+0.085)^14

sphott51 · Answer

so using this formula A= Pe^rt ?

ad7 · Answer

Here in Austria we use different letters,   but I think you got it