SOLUTION: find the amount of interest earned on $2500 invested at a 6.4% interest rate compounded continuously for 3 years.

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Question 606076: find the amount of interest earned on $2500 invested at a 6.4% interest rate compounded continuously for 3 years.
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
find the amount of interest earned on $2500 invested at a 6.4% interest rate compounded continuously for 3 years.
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A(3) = 2500*e^(3*0.064)
A(3) = 3029.18
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Interest = 3029.18 - 2500 = $500.18
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Cheers,
Stan H.