Miguel’s bank is offering savings accounts with 4% interest compounded continuously, If Miguel invests $500 how much will he hav
e after 2 years
1 answer:
Answer:
After 2 years Miguel will have in his account $541.64
Step-by-step explanation:
The formula for calculating compound interest continuously is:

Where A is the amount of money obtained after t years.
r is the compound interest rate and p is the initial amount
In this case we have that:

Then we must find the final amount A


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