Question

Ceasar opens a bank account and makes an initial deposit of $800. The banker tells Ceasar that he is going to receive an annual rate of 10% compounded continuously on his investment. Find the bank balance assuming Ceasar leaves the account untouched for 8 years.
Can you please do the problem using the formula A(t)=pe^(rt).

Answer 1

Answer:

1780.43

Step-by-step explanation:

Given:

P = 800

r = 10% or 0.1

t = 8

Work:

$A=Pe^{rt}\\\\A=800e^{0.1*8}\\\\A=800e^{0.8}\\\\A=1780.43$