Step 1 :We are given the following values: Principal amount (P) = $2000, annual interest rate (r) = 3.38% or 0.0338 in decimal form, and time (t) = 2 years. We are asked to find the amount of money accumulated after 2 years, including interest (A).
Step 2 :We use the continuous compound interest formula, which is \(A = P e^{rt}\).
Step 3 :Substitute the given values into the formula: \(A = 2000 \times e^{0.0338 \times 2}\).
Step 4 :Calculate the value of A.
Step 5 :\(A = 2139.874495946383\)
Step 6 :Round the final answer to two decimal places.
Step 7 :\(\boxed{2139.87}\)