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Amanda [17]
3 years ago
8

Suppose you deposit $6000 in a savings account that pays interest at an annual rate of 4% compounded continuously. In 8 years, w

hat will the balance in the account be?
Mathematics
2 answers:
Semenov [28]3 years ago
7 0
Idk sorry for that ‍♀️‍♀️
jeka57 [31]3 years ago
7 0
\bf ~~~~~~ \textit{Continuously Compounding Interest Earned Amount}
\\\\
A=Pe^{rt}\qquad 
\begin{cases}
A=\textit{accumulated amount}\\
P=\textit{original amount deposited}\to& \$6000\\
r=rate\to 4\%\to \frac{4}{100}\to &0.04\\
t=years\to &8
\end{cases}
\\\\\\
A=6000e^{0.04\cdot 8}\implies A=6000e^{0.32}
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