How much would $600 invested at 8% interest compound continuously be worth after 3 years? round to the nearest cent a (t) = p. ert

Given:

$600 principal

8% rate = 8/100 = 0.08

3 years time

Solving for A:

A = P⋅e^rt

where:

A is the amount

P is the principal

e is the mathematical constant

r is the rate of interest

t is the time in years

A = P⋅e^rt

= 600⋅e^ (0.08⋅3)

= 600 (2.718281828459045) ^ (0.24)

A = $762.70

$600 compounded continuously at a rate of 8% for 3 years will yield a final amount of $762.70