document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1007049>Question 1007049</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Mary has $3,500 in a savings account earning 4 1/2% annual interest that is compounded continuously. How much will be in the account at the end of 3 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #854450 by </B><A HREF=/tutors/aboutme.mpl?userid=ikleyn><B>ikleyn(53875)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ikleyn><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=ikleyn><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=854450\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .<BR>\n" );
document.write( "Mary has $3,500 in a savings account earning 4 1/2% annual interest that is compounded continuously. <BR>\n" );
document.write( "How much will be in the account at the end of 3 years?<BR>\n" );
document.write( "~~~~~~~~~~~~~~~~~~~~~~~~~~\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Calculations in the post by @lwsshak3 are incorrect and lead to wrong answer.\r<BR>\n" );
document.write( "\n" );
document.write( "&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I came to bring a correct solution.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Formula for continuous compounding: A = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=Pe%5E%28rt%29 ALIGN=MIDDLE  ALT=\"Pe%5E%28rt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >, <BR>\n" );
document.write( "where P is initial investment, r is the interest rate, A is the amount after t years.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "A = <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=3500%2A2.71828%5E%280.045%2A3%29 ALIGN=MIDDLE  ALT=\"3500%2A2.71828%5E%280.045%2A3%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > = $4005.88,  to the last cent. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>ANSWER</U>\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Solved correctly.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );