In the case of continuous compounding, because , the formula for accumulated amount (aka Future Value) of a single deposit investment is:
Where is the accumulated amount, is the starting principal, is the base of the natural logs, is the annual interest rate expressed as a decimal, and is the term of the investment in years.
For your problem:
Just plug in your number of years and let your fingers do the walking on your calculator.
John
My calculator said it, I believe it, that settles it
