Hello,
Does this exercise look correct?
10. Rebecca goes to a bank with $2000 she has saved over the summer. The bank advertises a 3% interest rate when opening a savings account. The bank compounds the money daily with an exponential formula of A(t) = Pe^rt, where P represents the initial amount deposited, e is Euler's constant (approximately 2.71828), r is the rate in decimal form, and t is the total time. Rebecca wants to know how much money will be in her savings account after 10 years.

P = 2000

e = Euler's constant (2.71828)

r = 0.03

t = 10

A(t) = Pe^rt

A(10) = 2000 * 2.71828^ 0.03*10

A(10) = 2000 * 2.71828^ 0.3

A(10) = 2699.71707036 ≈ $2700



Answer :

Answer: Yes it looks correct i also did it myself and got the same answer

Step-by-step explanation: