Question

An initial amount of $1300 is invested in an account at an interest rate of 1% per year, compounded continuously. Find the amount in the account after five years. Round your answer to the nearest cent.

Answer 1

65, given the amount of $1300 times 0.01 percent times 5 years would equal $65 over 5 years, to break it down, multiply 1300 times 0.01 times 5.

Explanation: