SOLUTION: Ceasar opens a bank account and makes an initial deposit of $800. The banker tells Ceasar that he is going to receive an annual rate of 10% compounded continuously on his investmen

Question 1191795: Ceasar opens a bank account and makes an initial deposit of $800. The banker tells Ceasar that he is going to receive an annual rate of 10% compounded continuously on his investment. Find the bank balance assuming Ceasar leaves the account untouched for 8 years.

Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
Ceasar opens a bank account and makes an initial deposit of $800. The banker tells Ceasar that he is going to receive an annual rate of 10% compounded continuously on his investment. Find the bank balance assuming Ceasar leaves the account untouched for 8 years.
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FV = PV*e^(rt)
FV = 800*e^(0.1*8)
FV = $1780.43
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