Sean invests $10,000 at an annual rate of 5% compounded continuously, according to the
formula A= Pe, where A is the amount, P is the principal, e = 2.718, r is the rate of interest, and
tis time, in years.
Determine, to the nearest dollar, the amount of money Sean will have after 2 years.
Answer: $
Determine how many years, to the nearest year, it will take for Sean's initial investment to
double.
Answer:
years