Question
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
Henry
P = Po*e^rt
r*t = (3%/100%) * 2yrs. = 0.06
P = 2000*e^0.06 = $2123.67
r*t = (3%/100%) * 2yrs. = 0.06
P = 2000*e^0.06 = $2123.67