Question

Natalie invested $1,200 in an account paying an interest rate of 6.4% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 17 years?

Answer 1

Answer:

FV=$3,445

Step-by-step explanation:

FV=PV(1+i)^n (FV: Future value, PV: Present value)

i=0.064

n=17

FV=1200(1+0.064)^17

FV=3444.9975

FV=$3445.00