Thread: Bank problem

Marcie deposited 500$ in the bank. If the interest rate=10.5% and is compounded continuously, how much money will she have after 2.5 years?

I know N=500e^(.105)(2.5), but I don't know where to go from there.

Originally Posted by beetz

Marcie deposited 500$ in the bank. If the interest rate=10.5% and is compounded continuously, how much money will she have after 2.5 years?

I know N=500e^(.105)(2.5), but I don't know where to go from there.

well, plug it into your calculator to calculate N, which is approximately $650.09

OH DUUUUH!
I think I've done too much math for one day.

Originally Posted by beetz

OH DUUUUH!
I think I've done too much math for one day.

probably