Question

Please help this is due soon

Answer 1

$4966.50

Explanation:

The formula for continual interest is
`A=Pe^(rt)`.

A=final amount

P=initial amount

r=interest rate

t=time

In this equation, e equals approximately 2.718.

Substitute what we know into the equation.

`A=3500e^((.07)(5))`

`A=3500e^(.35)`

`A=3500(1.419)`

A=4966.50