Initial deposit was 2,000 for 5 years at a rate of 8 percent. If a bank compounds continuously, then the formula used is A= Pe rt where e is a constant and equals approximately 2.7183. Calculate A with continuous compounding. Round the answer to the hundredths place.© BrainMass Inc. brainmass.com October 9, 2019, 9:58 pm ad1c9bdddf
The expert examines compounding interest into algebra. A complete, Neat and Step-by-step Solution is provided.