SOLUTION: I need help! The amount A in an account after t years of an initial principle P invested at an annual rate r compunded continuously is given by A=Pe^rt where r is expressed as a

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Question 65660: I need help!
The amount A in an account after t years of an initial principle P invested at an annual rate r compunded continuously is given by A=Pe^rt where r is expressed as a decimal. What is the amount in the account if $500 is invested for 10 years at the annual rate of 5% compounded continuously?

Answer by funmath(2933) About Me  (Show Source):
You can put this solution on YOUR website!
The amount A in an account after t years of an initial principle P invested at an annual rate r compunded continuously is given by A=Pe^rt where r is expressed as a decimal. What is the amount in the account if $500 is invested for 10 years at the annual rate of 5% compounded continuously?
P=500
r=5/100=.05
t=10
A=%28500%29e%5E%28%28.05%29%2810%29%29
A=500e%5E.5
A=824.3606354
A=$824.36
Happy Calculating!!!