Miki opened a savings account and deposited $200.00. the account earns 10% interest, compounded continuously. if she wants to use the money to buy a new bicycle in 1 year, how much will she be able to spend on the bike?
use the formula a=pert, where a is the balance (final amount), p is the principal (starting amount), e is the base of natural logarithms (≈2.71828), r is the interest rate expressed as a decimal, and t is the time in years.
round your answer to the nearest cent.
$