If $5,500 is invested at 9% annual interest, which is compounded continuously, what is the account balance after 10 years, assuming no additional deposits or withdrawals are made?

Answer 1

A=Pe^rt where r= annual rate of growth and t = years

A =5,500e^(.09)(10)

A = 5,500e^.9 = 5,500(2.46) = $13,527.82