## anonymous one year ago You deposit \$3000 in an account that pays 5% annual interest compounded continuously. What is the balance after 2 years?

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1. anonymous

Y=3×2 with exponent ×-3

2. anonymous

Y=(3\4)exponent ×

3. anonymous

Y=(3\4)exponent ×

4. Miracrown

you are absolutely right, but then why did you use 3/4?

5. Miracrown

6. Miracrown

so what is going to be the principal in this case?

7. Miracrown

P = 3000 r = 5% t = 2 Therefore ... $A = 3000e^{0.05\times2}$

8. Miracrown

Solve for a