SOLUTION: If $2500 is invested in an account earning 3.5% compounded continuously, how much would be in the account after 5 years?

SOLUTION: If $2500 is invested in an account earning 3.5% compounded continuously, how much would be in the account after 5 years?

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Question 788539: If $2500 is invested in an account earning 3.5% compounded continuously, how much would be in the account after 5 years?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
If $2500 is invested in an account earning 3.5% compounded continuously, how much would be in the account after 5 years?
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A(t) = P*e^(rt)
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A(5) = 2500*e^(0.035*5)
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A(5) = $2978.12
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Cheers,
Stan H.
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