60.April would like to invest $200 in the bank for one year. Three banks all have a nominal APR of 1.5%, but compound the interest differently.
c. Bank C compounds interest continuously. What would April’s balance be after one year with this bank?

Since the bank in question compounds interest continuously, the following equation should be used to determine the final balance (B) in April's account:

[tex]B= 200*e^{i*t}[/tex]

Where "e" is a mathematical constant approximated as 2.7183, "i" is the interest rate (1.5%) and "t" is the investment time in years (1):

[tex]B= 200*e^{0.015*1}[/tex]

[tex]B= 203.02[/tex]

April's balance would be $203.02 after one year.

60.April would like to invest $200 in the bank for one year. Three banks all have a nominal APR of 1.5%, but compound the interest differently. c. Bank C compounds interest continuously. What would April’s balance be after one year with this bank?

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60.April would like to invest $200 in the bank for one year. Three banks all have a nominal APR of 1.5%, but compound the interest differently.
c. Bank C compounds interest continuously. What would April’s balance be after one year with this bank?