Question

$1250 is deposited in an account that pays 6.5% percent annual interest, compounded continuously. What is the balance after 8 years?

Answer 1

$1441.90

Explanation:

Formula-

A = P (1 + r/n)^(nt)

A= 1250(1 + 8/1)^(1*.065)

Answer 2

2102.53

Explanation:

1250e (0.065)8