How much would sophie have in her account at the end of 10 years if she deposit $2,000 into the account today if she earned 8 percent interest and interest is compounded continuously?

To calculate the amount that Sophie will have at the end of 10 years given that she deposited $2000 that earns a rate of 8% will be given by:

A=P (1+r/100) ^n

where;

A=future amount

P=principle

r=rate

n=time;

from our question;

P=$2000

r=8%

n=10 years;

Thus;

A=2000 (1+8/100) ^10

A=2000 (1+0.08) ^10

A=2000 (1.08) ^10

A=4,317.85

Therefore at the end of 10 years Sophie will have $4,317.85