Question 1007049
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Mary has $3,500 in a savings account earning 4 1/2% annual interest that is compounded continuously. 
How much will be in the account at the end of 3 years?
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        Calculations in the post by @lwsshak3 are incorrect and lead to wrong answer.

        I came to bring a correct solution.



Formula for continuous compounding: A = {{{Pe^(rt)}}}, 
where P is initial investment, r is the interest rate, A is the amount after t years.


A = {{{3500*2.71828^(0.045*3)}}} = $4005.88,  to the last cent. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>ANSWER</U>


Solved correctly.