Question

What formula is used to compute the amount of money in an account with continuously compounded interest?

Answer 1

Answer:
`I = Pe^r^t`

Explanation:

For continuously compounded interest, the above formula is used. The meaning of the variables are as follows:

I: final amount

P: principal amount (what you start off with)

r: interest rate (usually a percent or decimal less than 1)

t: time