You invest 1600 in an account that pays an intrest rate of 4.75% compounded continuously calculate the balance of your account after 7 years round ur answer to the nearest hundreth

If the interest is compounded continuously, the formula you use would look like this: A (t) = Pe^rt, where A (t) is the final amount, P is the initial investment, e is euler's number, r is the rate, and t is the time in years. Fill it in like this:

A (t) = 1600 * e^ (.0475) (7). Do the multiplication between the powers first:

A (t) = 1600*e^.3325. Now take e to that power to get A (t) = 1600 (1.3944). Finish by multiplying: A (t) = $2231.12