Question

Hello! Help please! Can you show steps?

Answer 1

$283. 81

Explanation:

Start with P = 200.00 dollars.

If the interest is compounded continuously, then after t = 7 years the at the rate r = 5% = .05, the total amount of money in the account will be A.

`A= P e^(r*t)`

`A = 200*e^(.05*7)`

A = 283.8135097

A ≈ $283. 81