The Compound Amount When an Investment Is Compounded Continuously Is

Multiple Choice

The compound amount when an investment is compounded continuously is expressed by the formula A = Peni, where A is the compound amount, P is the principal, n is the number of years, and i is the interest rate per year. Find the compound amount of an investment of $1,000 at an interest rate of 8% for 20 years if it is compounded continuously.

A) $4,953.03
B) $470.00
C) $39,810.72
D) $4,660.96