Question

Dianelys invested dollar sign, 970$970 in an account paying an interest rate of 4, point, 4, percent4.4% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 1313 years?

Answer 1

Use A = Pe^{rt} for continuous compounding.

P = \$970, r = 0.044, t = 13, so
A = 970 e^{0.044·13} = 970 e^{0.572} ≈ 970(1.7717538) ≈ \$1,718.60.

So the account will have \$1,718.60 (to the nearest cent).