Question

If Sarita deposits $1000 in an dollars in account paying 3.4% annual interest compounded continuously what is the balance in the account after five years

Answer 1

Total = 1,000 * 2.718281828459^(.034 * 5)
Total = 1,000 * 2.718281828459^0.17
Total = 1,000 * 1.1853048513
Total = 1,185.30