Question

Suppose you invest 5000 at an annual interest rate of 6.3% compounded continuously. How much will you have in the account after 3 years

Answer 1

Problem

You deposit $5000 into a bank account paying 6.3% simple interest per year. You left the money in for 3 years. How much interest do you get at the end of those 3 years?

Result

The interest is $945.

Then you add 5000 to your interest rate of 945 so your answer would be 5945 . I think I'm not that great with math but I really hope I helped .