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Phil invested $150 at an annual rate of 4% compounded continuously, what amout to the nearest cent will be in his account after 2 years? Graph the amount in his account over the first 8 years.

  • math -

    P = Po*e^rt

    Po = $150 = Initial investment.

    rt = (4%/100%)/yr * 2yrs = 0.08.

    Plug the above values into the given Eq
    and get:
    P = $162.49.

    Use the following data for graphing:
    (X,Y) or
    (T,P).
    (1,156.12).
    (2,162.49).
    (3,169.12).
    (4,176.03).
    (5,183.21).
    (6,190.69).
    (7,198.47).
    (8,206.57).

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