Math help with answer

Question

Jocelyn invested $3,700 in an account paying an interest rate of 1.5% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 6 years?

Answer 1

For continuous growth use the formula

y=A(e^kt) where A is initial amount

k is growth rate and t=time

y= 3700(e^ (0.05)(6)

y= 3700(e^.3)= 4944