Respuesta :

Answer:

After 2 years Miguel will have in his account $541.64

Step-by-step explanation:

The formula for calculating compound interest continuously is:

[tex]A=pe^{rt}[/tex]

Where A is the amount of money obtained after t years.

r is the compound interest rate and p is the initial amount

In this case we have that:

[tex]p=\$500\\\\t=2\ years\\\\r=0.04[/tex]

Then we must find the final amount A

[tex]A=500e^{0.04(2)}[/tex]

[tex]A=\$541.64[/tex]