Question

Wanda invest $2829 at 6.4% interest compounded continuously. How much money is in the account after five years?

Answer 1

`~~~~~~ \textit{Continuously Compounding Interest Earned Amount} \\\\ A=Pe^(rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$2829\\ r=rate\to 6.4\%\to (6.4)/(100)\dotfill &0.064\\ t=years\dotfill &5 \end{cases} \\\\\\ A=2829e^(0.064\cdot 5)\implies A=2829e^(0.32)\implies A \approx 3895.89`