algebra
posted by Brad on .
Find the accumulated value of a CD of $20000 for 3 years at an interest of 3.1% if the money is compounded continously.

P = Po*e^rt.
Po = $20,000.
rt = (3.1%/100%)/yr * 3yrs = 0.093.
P = 20,000*e^0.093 = $21,949.25.