Question

Aubrey opened a savings account and deposited $800.00 as principal. the account earns 7% interest, compounded continuously. what is the balance after 1 year

Answer 1

`\begin{gathered} A\text{ = ?} \\ p\text{ = \$800} \\ r\text{ = 7\% = }(7)/(100)=\text{ 0.07} \\ A=Pe^(rt) \\ A=800xe^{0.07\text{ x 1}} \\ \\ A\text{ = 800 }* e^(0.07) \\ A\text{ = 800 x -2.659} \\ A\text{ = -2127.40} \\ A\text{ = 2127} \end{gathered}`