word problem

you deposit $1500 in an account that pays 3.25Z% annual interest compounded continuously what is the balance after 5 years

Answers
as 3.25% is the same as 3.25/100 then take your 1760
undergrad_liam
14 June 2012
as 3.25% is the same as 3.25/100 then take your 1500 and multiply by 3.25/100 to get your year one value, take that value and multiply by 3.25/100, keep going until you've done it for the 5th year and the answer is 1760
undergrad_liam
14 June 2012
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