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3 years ago

6

FlybynightSavings.com is offering a savings account that pays 28% compounded continuously. How much interest would a deposit of

$3,000 earn over 5 years? (Round your answer to the nearest cent.)

1 answer:

Helga [31]3 years ago

5 0

P =$3000, r = 28% , t = 5 years
<span>A = 3000.e^(0.28)(5) = 3000.(4.0551) = $12,165.60</span>

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