Find the amount owed at the end of 4 years if 1600 is loaned at a rate of 12 % compounded continuously

Question

Use  where: = the amortized amount (total amount of the investment interest plus principle) = the amount of the principal = the annual rate of interest (as a decimal) = the time in yearsFind the amount owed at the end of  years if  is loaned at a rate of % compounded continuously.

Answer 1

1600e^.48 = $2585.72