Question: please answer using excel and explain 20) An amount of $2,340.00 is deposited in a bank paying an annual interest rate of 3.1%, compounded continuously.

please answer using excel and explain

20) An amount of $2,340.00 is deposited in a bank paying an annual interest rate of 3.1%, compounded continuously. Find the balance after 3 years. The future value of a lump sum formula (i.e., FV=PV(1+r)T) becomes FV=PV(e)(r)(t) compounded continuously. Therefore, the FV is

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