Answer
$
\begin{aligned}
V& =500(1.06983)^t,
\end{aligned}
$
where
$
\begin{aligned}
a & =500 \\
b & =1.06983 \\
r & =6.983 \% .
\end{aligned}
$
Work Step by Step
The exponential function that describes the continuous compounding may be written as:
$$
\begin{aligned}
V & =500 e^{0.0675 t} \\
& =500\left(e^{0.0675}\right)^t \\
& =500(1.06983)^t,
\end{aligned}
$$ This means the following:
$$
\begin{aligned}
a & =500 \\
b & =1.06983 \\
r & =6.983 \% .
\end{aligned}
$$
