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3 years ago

13

Mario opened a savings account and deposited $700.00 as principal. The account earns 6% interest, compounded continuously. What

is the balance after 6 years?

1 answer:

Bas_tet [7]3 years ago

4 0

Answer:

$1003.33

Step-by-step explanation:

The appropriate formula is ...

A = P·e^(rt)

Filling in the givens, you have ...

A = $700·e^(0.06·6) ≈ $1003.33

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