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Suppose you invest $1600 at an annual interest rate of 4.6% compounded continuously. Using the formula A(t) =P*e^rt , how much will you have in the account after 4 years

Suppose you invest $1600 at an annual interest rate of 4.6% compounded continuously. Using the formula A(t) =P*e^rt , how much will you have in the account after 4 years
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Suppose you invest $1600 at an annual interest rate of 4.6% compounded continuously. Using the formula A(t) =P*e^rt , how much will you have in the account after 4 years

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User Mohamed Samsudeen
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1 Answer

1 vote
Just fill in the given data and evaluate the expression:

A = $1600*e^(0.046*4) = $1923.23 (rounded up to the nearest cent)
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User Arthur Chaparyan
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