SOLUTION: Can you check my answer please If a bank compounds continuously, then the formula used is A=Pe(rt) where e is a constant and equals approximately 2.7183. Calculate A with con

Algebra ->  Equations -> SOLUTION: Can you check my answer please If a bank compounds continuously, then the formula used is A=Pe(rt) where e is a constant and equals approximately 2.7183. Calculate A with con      Log On


   

Question 108636: Can you check my answer please
If a bank compounds continuously, then the formula used is A=Pe(rt)
where e is a constant and equals approximately 2.7183.
Calculate A with continuous compounding. Round your answer to the hundredth's place.A is the amount of the return.
P is the principal amount initially deposited.
r is the annual interest rate (expressed as a decimal).
n is the number of compound periods in one year.
t is the number of years
I used 2000 as the principal and.08 as the interest rate.
A=2000(2.7183).08
A=2166.5753
Thank you
Thank You
Answer by checkley71(8403) About Me  (Show Source):
You can put this solution on YOUR website!
A=2000(2.7183).08
A=5,436.6*.08
A=$434.93