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Solve word problem. Round to two decimal places. Find the final amount when $10,000 is invested for 3 years at 3%. The interest is compounded continuously using the formula A = …

Solve word problem. Round to two decimal places. Find the final amount when $10,000 is invested for 3 years at 3%. The interest is compounded continuously using the formula A = …
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5 votes
Solve word problem. Round to two decimal places. Find the final amount when $10,000 is invested for 3 years at 3%. The interest is compounded continuously using the formula A = Pe∧rt.

asked
User Jason McCay
by
8.1k points

1 Answer

5 votes

Answer:

A = $10,000e^(.03 × 3) = $10,941.74

answered
User Chris Herbert
by
7.6k points
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