$5400 at 3.6% compounded continuously for 5 years.

A = $6,464.97

Step-by-step explanation:

Given the principal amount of $5,400, and an interest rate of 3.6% compounded continuously for t = 5 years:

Substitute the given values into the Continuous Compounding Formula:

where:

P = principal = $5,400

e ≈ 2.7183 (irrational number)

r = interest rate = 3.6% or 0.036

t = time in years = 5

A = $6,464.97

Therefore, the amount after compounding continuously for 5 years is $6,464.97.

you should pay $0.88

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