posted by phil on .
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.
P = Po*e^rt
Po = $150 = Initial investment.
rt = (4%/100%)/yr * 2yrs = 0.08.
Plug the above values into the given Eq
P = $162.49.
Use the following data for graphing: