Answer:
1.7% compounded continuously
Step-by-step explanation:
The model used for continuous compounding is ...
f(t) = Pe^(rt)
where P is the principal amount, and r is the interest rate being compounded. Assuming a typo in your given equation, you have ...
f(t) = 1000·e^(0.017t)
Matching the various parts of the equation, we see that P = 1000 and r = 0.017 = 1.7%.
The balance grows at a continuous rate of 1.7%.
