FlybynightSavings.com is offering a savings account that pays 29% compounded continuously. How much interest would a deposit of $4,000 earn over 10 years?

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asked Feb 14, 2018 219k views

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Bolo · Answer 1 · 2018-02-19T21:22:56+0000

If that is really supposed to be 29% then
Total = Principal * e^(rate*years)
Total = 4,000 * e^(.29*10)
Total = 4,000 * 18.1741453605
Total = 72,696.58

FlybynightSavings.com is offering a savings account that pays 29% compounded continuously. How much interest would a deposit of $4,000 earn over 10 years?

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