Question

How much would 500 invested at 3% interest compounded continuously be worth after 6 years

Answer 1

$\bf ~~~~~~ \textit{Continuously Compounding Interest Earned Amount}\\\\ A=Pe^{rt}\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to& \ 500\\ r=rate\to 3\%\to \frac{3}{100}\to &0.03\\ t=years\to &6 \end{cases} \\\\\\ A=500e^{0.03\cdot 6}\implies A=500e^{0.18}\implies A\approx 598.6086815609$