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Doss [256]
3 years ago
12

You invest $1400 in an account that pays an interest rate of 5.5% compounded continuously. Calculate the balance of your account

after six years round your answer to the nearest hundredth
Mathematics
1 answer:
Anna71 [15]3 years ago
5 0
Hi there
The formula is
A=pe^rt
A future value?
P present value 1400
R interest rate 0.055
T time 6 years
E constant
So
A=1,400×e^(0.055×6)
A=1,947.36

Hope it helps
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A right angled triangle has three sides and it also has three angles. One of the angles is always 90 degrees while the other two angles are complimentary angles. This means that they add up to give 90 degrees.

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