Use the Formula $A = p e ^ { r t }$

Use the formula $A = p e ^ { r t }$ to find the total amount of money accumulated at the end of the indicated time period by compounding continuously: $1,000 for 2 years at 2%. The choices are rounded to the nearest cent.

A) $693.87
B) $1,561.22
C) $2,810.19
D) $1,040.81
E) $385.49

Correct Answer:

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