Question

If $1,400 is invested in a savings account offering interest at a rate of 4.5% per year, compounded continuously, how fast is the balance growing after 4 years?

Answer 1

 Formula to find Amount

             = p(1+r/100)n

             = 1400(1+4.5/100)4

             = 1400 (1+0.045)4

            = 1400*1.045*1.045*1.045*1.045

            = 1669.53