SOLUTION: This is my question: $980 was deposited at 7% interest compounded continuously. How much was there at the end of 9 years? My answer was $1842.40 and the answer book says that the c

Question 1100699: This is my question: $980 was deposited at 7% interest compounded continuously. How much was there at the end of 9 years? My answer was $1842.40 and the answer book says that the correct answer was $1840. Was I simply not told to round, or was my answer incorrect? Thank you!
Answer by greenestamps(13200) (Show Source): You can put this solution on YOUR website!

For continuous compounding, the calculation is

which gives an answer of $1840.06.

If the book answer is $1840, you were apparently supposed to round to the nearest dollar.

But I don't know what you did to get your answer....
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