Question

you invest 2,600 in an account that pays an interest rate of 8.5% compounded continuously. Calculate the balance of your account after 5 years

Answer 1

The formula is
A=p e^rt
A future value?
P present value 2600
R interest rate 0.085
T time 5years
E constant
A=2,600×e^(0.085×5)
A=3,976.94