If $12,000 is invested and is expected to gain interest at a rate of 3.2%, how much will the investment be worth if it is compounded continuously for 4 years?

Question

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Answer 1

A = P *e^rt

 

A = the future value of the investment/loan, including interest
P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate (decimal)
t = the number of years the money is invested or borrowed for

 

A= 12000*e^(0.032*4)

  = $13638.64

Answer 2

A = pe^rt

A = 12000e^(0.032)(4)

 

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