Answer:
The balance after 3 years is $827.34
Explanation:
We are given that You deposit $725 in an account that pays 4.5% annual interest compounded continuously.
Principal = $725
Rate of interest = 4.5%
Time = 3 years
We are supposed to find the balance after 3 years.
Formula : [tex]A=P(1+r)^t[/tex]
A= Amount
P = Principal
r = rate of interest in decimals
t = time
[tex]A=725(1+\frac{4.5}{100})^3[/tex]
[tex]A=827.34[/tex]
Hence the balance after 3 years is $827.34
