9514 1404 393
Answer:
$110.52
Step-by-step explanation:
The formula for the amount resulting from continuous compounding is ...
A = P·e^(rt) . . . . . principal P compounded continuously at annual rate r for t years
Using your values, we have ...
A = 100·e^(0.05·2) = 100e^0.1 = 110.52
The resulting amount is $110.52.
