Question

If an initial investment of $2000 is compounded continuously at a rate of 19.3%,

how much is the investment worth after 11 years?

Answer 1

So the equation should be 2000(1.193)^11. Just plug that into your calculator. The way I got 1.193 is because the percentage can be converted to decimal by moving the dot two points to the left. The formula is cost(1+percentage)^years. The Answer should be about 13933.97.