Given:
Principal = 1,000
rate = 5%
term = 10 years
The continuous compound formula is: A = Pe^rt
e is a function in the calculator. However, if you are doing manual computation the value of e is 2.7183 (Napier's number)
A = 1,000 (2.7183)^0.05*10
A = 1,000 (2.7183)^0.5
A = 1,000 (1.6487)
A = 1,648.70
The money you will have in your account in 10 years will amount to 1,648.70.
