To calculate the ammount we have in an account after a certain time with an interes rate compound continuouly we have to use the formula:
[tex]FV=Pe^{rt}[/tex]where FV is the future value, P in the principal (the initial ammount we invest), e is the euler number (2.7182....), r is the interest rate in decimal form and t is the time.
Then, in our case we have:
[tex]\begin{gathered} FV=1175e^{0.0771\cdot19} \\ =5084.35 \end{gathered}[/tex]Therefore, there will be $5084.35 in the account after 19 years.
