Question 390229
Suppose that you invest ${{{100}}} at an annual interest rate of {{{4.8_percent }}}compounded continuously. How much will you have in the account after {{{3}}} years to the nearest cent?


{{{A = P (1 + r)^t}}}
{{{P }}}= the principle invested
{{{r }}}= annual interest rate as a percentage
{{{t }}}= the length of the term (investment or loan)
{{{A}}} = the amount accumulated after n periods

In the above example, using the formula we get:
{{{A = P (1 + r)^t}}}
{{{A = 100 (1 + 0.048)^3}}}

{{{A = 100 (1.151022592)}}}
{{{A = 115.10}}}