Question 311024
10 dollars invested at 5% compounded continuously after a 3 year period. After 3 years, the investment result in?
.
{{{A(t) = Poe^(rt)}}}
Where
A(t) is amount after time t
Po is the initial amount
r is the rate
t is the time
.
{{{A(t) = 10e^(.05*3)}}}
{{{A(t) = 10e^(.15)}}}
{{{A(t) = 11.62}}}
Or,
A(t) = $11.62