SOLUTION: Find the accumulated amount after 5 years if $12,000 is invested at 18% per year compounded continuosly. Do I use 365 and 1/2???? I'm confused.

SOLUTION: Find the accumulated amount after 5 years if $12,000 is invested at 18% per year compounded continuosly. Do I use 365 and 1/2???? I'm confused.

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Question 220941: Find the accumulated amount after 5 years if $12,000 is invested at 18% per year compounded continuosly. Do I use 365 and 1/2???? I'm confused.
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
12,000*e^rt
12,000*2.7182^(.18^5)
12,000*2.4596=29,515.24 ans.
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