You invest $500 in an account with an annual interest rate of 1.1%, compounded continuously. how much money is in the account after 10 years? round your answer to the nearest whole number.
a) $548

b) $558

b) $580

c) $600

The multiplier is given by 100% + 1.1% = 101.1% and as decimal is 1.011

The formula for compound growth is given
Final Value = Principal Amount × 
where n is the number of years

Final value = 
Final value = 557.8039178 ≈ 558 (rounded to nearest whole number)

Correct B

The first one is correct