eip I Log Out inance Application1 Homework Due Tue s Questio

eip I Log Out inance Application#1 Homework Due Tue s Questions deposit su00 in an account eaming 2% interes, compounded gitinio aly, How much will you have in he accout in 10 years? ?Q3(0/1) Q411/1 | Get help Points possible: 1 Unimited attempts Score on last attempt: 0. Score in gradebook: Message instructor about this question Grade: 3/6 Submit ? 0 9

Solution

Future value of amount P at rate r% compounded continuously for t years=P*e^(rt)

Hence, amount=4000*e^(2%*10)=4885.611