Phil invested $150 at an annual rate of 4% compounded continuously, what amout to the nearest cent will be in his account after 2 years? Graph the amount in his account over the first 8 years.

Answer 1

P = Po*e^rt

Po = $150 = Initial investment.

rt = (4%/100%)/yr * 2yrs = 0.08.

Plug the above values into the given Eq
and get:
P = $162.49.

Use the following data for graphing:
(X,Y) or
(T,P).
(1,156.12).
(2,162.49).
(3,169.12).
(4,176.03).
(5,183.21).
(6,190.69).
(7,198.47).
(8,206.57).