Answer :
Answer:
FV= A= $2,043.66
Step-by-step explanation:
Giving the following information:
Initial deposit= $1,215
Interest rate= 6.5% compounded continuously
Number of years= 8
To calculate the future value, we need to use the following formula:
A= P*(e^rt)
A= Future value
P= principal
r= rate of interest
t= time in years
A= 1,215*(e^0.065*8)
A= $2,043.66