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Genrish500 [490]

3 years ago

10

You deposit $6000 in an account earning 5% interest compounded continuously. how much will you have in the account in 5 years?

1 answer:

Kipish [7]3 years ago

7 0

Total = principal * e ^ (rate * years)
Total = 6,000.00 * 2.718281828^(.05 * 5)
Total = 6,000.00 * 2.718281828^(.25)
Total = 6,000.00 * <span> <span> <span> 1.2840254166 </span> </span> </span>
<span><span>Total = 7,704.15

Source:
http://www.1728.org/rate2.htm
calculator:
</span>http://www.1728.org/compint.htm
</span>

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