Question

Kimi invests $4,000 at 3% interest compounded continuously. How much money will she

have in 4 years?

Answer 1

Explanation:

Continuous compounding formula

FV = PV e^(rt) r = decimla rate = .03 t = time = 4 years PV = 4000

FV = future value = 4000 e^(.03 * 4) = $ 4509.99

Answer 2

She will have $4509.99 in her account after 4 years.