Answer:
the amount after 5 years using compound continuously is $135.03
Step-by-step explanation:
The computation of the amount after 5 years using compound continuously is as follows
= Principal × e^(rate × time period)
= $110 × e^(4.2% × 5)
= $110 × 1.227525065
= $135.03
Hence, the amount after 5 years using compound continuously is $135.03
We simply applied the above formula so that the correct value could come
And, the same is to be considered
