Question

# You have \$10,000 to invest for two years. Your bank offers 5% interest, compounded continuously for...

You have \$10,000 to invest for two years. Your bank offers 5% interest, compounded continuously for funds in a money market account. Assuming no additional deposits or withdrawals, how much money will be in that account at the end of two years?

Compute the future value of money deposited, using the equation as shown below:

Future value = Amount deposited*eRate*Time

= \$10,000*e5%*2 years

= \$10,000*1.1051709180756

= \$11,051.709180756

Hence, the future value of the amount deposited will be \$11,051.709180756.

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