Asked by Emily

The invested in a bank savings accouint is coumpounded continousl, with an annual interest rate of 3%. If a deposit of $2000 is made, then determine the balance after 2 years

Answers

Answered by Henry
P = Po*e^rt

r*t = (3%/100%) * 2yrs. = 0.06

P = 2000*e^0.06 = $2123.67

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