SOLUTION: Please help! This is my last assignment and I'm having trouble! Below the paragraph is what I attempted. Take the current amount you have in your checking or savings account

Question 178323: Please help! This is my last assignment and I'm having trouble! Below the paragraph is what I attempted.
Take the current amount you have in your checking or savings account. Suppose you have a choice of keeping your money for five years in a savings account with a 2% interest rate, or in a five year certificate of deposit with and interest rate of 4.5%. Calculate how much interest you would earn with each option over five years time with continuous compounding.
The amount of money in my saving is account is 5,326.00.
A=5,326(1+2%)5
A=?
A=5,326(1+4.5%)5
A=?

Answer by cartert(27) (Show Source): You can put this solution on YOUR website!
First you need to do Distributive property.
an easy way to do this is PEMDAS.
Turn the 2% in to .02
A=5,326(1+.02)5
5,326(1.02)5
so multiply 5,326(1.02)
then multiply the answer of the ? above by 5 and u will have A=
Turn 4.5 into .045
A=5,326(1+.045)5
5,326(1.045)5
so multiply 5.326(1.045)
then multiply the answer of the ? above by 5 and u will have A=
RELATED QUESTIONS
Hi PLEASE HELP ME!! I really do NOT know what i'm doing!! I need HELP! Help would be... (answered by stanbon)

Help! :-( I am having trouble solving this problem. It is a homework assignment due... (answered by Edwin McCravy)

Help please. I have an assignment to find a real world situation where quadratic... (answered by richard1234)

Hi! I am having trouble putting the following equation into proper form. My assignment... (answered by jim_thompson5910)

A card is randomly drawn from a shuffled deck of cards and NOT REPLACED. A second card is (answered by Boreal)

Hello, I am having difficulty with this problem. I attempted to create a rectangle and... (answered by Edwin McCravy)

Hello, my name is Laura and I am having some trouble with m math homework can you please... (answered by Alan3354)

i am having a lot of trouble with my relations and functions assignment i have made the... (answered by nerdybill)

I am having trouble. I am in college algebra and we are having to simplify rational... (answered by stanbon,algebrahouse.com)