Raegan deposits $3,648 in a bank offering an annual interest rate of 3.45% If the interest is compounded continuously and Raegan keeps the money in the bank for 2 years, how much will Raegan have at the end of the period? A=P⁢e^r⁢t

For continuous compounding, use A = Pe^(rt), where P = $3,648, r = 0.0345, and t = 2. Substituting gives A = 3,648e^(0.0345 × 2) = 3,648e^0.069 ≈ $3,908.60, so Raegan will have $3,908.60.

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