The formula for the interest compounded continuosly is given by:
[tex]A=Pe^{rt}[/tex]Where:
A is the final amount.
P initial amount= $22,000
r rate of interest = 3.75% or 0.0375
t time in year = 11 years
e= Euelr's number= 2.72
Replacing the values:
[tex]\begin{gathered} A=22000*e^{(0.0375)*11} \\ A=33232.96993\approx33232.97 \end{gathered}[/tex]Answer: The final amount after 11 years is $33232.97
