Question

you invest 2,200 in an account that pats an interest rate of 8.5% compounded continuously what's the balance after 6 years

Answer 1

Let's find the equation.
2,200×1.085^x=y
We need x to equal 6.
2,200×1.085^6=y
2,200×1.631467508843266
3,589.23
The balance after six years is $3,589.23.