document.write( "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.
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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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\n" ); document.write( "FV = PV*e^(rt)
\n" ); document.write( "FV = 800*e^(0.1*8)
\n" ); document.write( "FV = $1780.43 \n" ); document.write( "

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