Posted by Tori on .
Suppose you invest $1600 at an annual interest rate of 7.9% compounded continuously. How much will you have in the account after 10 years?
Algebra 2 -
B = P*e^(Yr)
where B is balance, P is principle = 1600; e is the number e; Y is the number of years; and r is the rate 0.079
Plug these numbers in and solve for the answer.