Question 61863
A bank compounds interest continuously. If you invest $500 at 4% at that bank for 5 years, what will your balance be? Use formula A= 500e^0.04t
where A is the balance in the account and t is in years.
{{{A=500e^(0.04(5))}}}
{{{A=500e^.2}}}
{{{highlight(A=610.70)}}}
A=$610.70
Happy Calculating!!!