Don L. answered • 12/10/15

Tutor

5
(12)
Fifteen years teaching and tutoring basic math skills and algebra

Hi Tori, the formula for continuous compounding is: A = Pe

^{rt}, where:A is the total amount

P is the original amount

r is the rate

t is the time

Substitute:

P = 2000

r = 4.5%, or .045 as a decimal

t = 10

A = 2000 * e

^{.045 * 10}A = 3136.62

Answer: $3136.62, rounded.

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