Problema Solution
If you invest $5,900 in an account paying 8.0% compounded continuously, how much money will be in the account at the end of 2.5 years?
Answer provided by our tutors
2.5 years = 2.5 periods
Rate = 8.0%
So the account at the end of 2.5 years = $5,900*(1+8.0%)^2.5 = $7151.73
So the account at the end of 2.5 years is $7,151.73