Question

You invest $3,000 in an account that has an annual interest rate of 2.5%, compounded continuously. How much money will be in the account after 5 years? Round your answer to the nearest whole number.
Please! I really need help with this one.

Answer 1

formula= amount=principal(1+rate/100)^time
a=3000(1+2.5/100)^5
a=3000(100/100 +2.5/100)^5
a=3000(102.5/100)^5
a=3000(1.025)^5
a=3000x1.131408212890625
a=3000x1.1314
a=3394
hope you understood