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October 21, 2014

October 21, 2014

Posted by **Anil** on Monday, October 31, 2011 at 10:07pm.

$3,000 into an account paying 4.1% interest compounded continuously.

compute the total interest earned at the end of 2 years.

- algebra -
**drwls**, Monday, October 31, 2011 at 10:19pmThe formulas you require can be found here:

http://www.moneychimp.com/articles/finworks/continuous_compounding.htm

There is also a calculator to make things easier.

- algebra -
**Reiny**, Monday, October 31, 2011 at 10:20pmamount of first = 4000(1 + .05/12)^24 = 4419.76

amount in 2nd = 3000 e^(2(.05)) = 3315.51

take over

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