Which lines in the graph have a slope greater than 1 but less than 2? Select all correct answers.
1 answer:
You might be interested in
The amount A when the principal P is compounded continuously is given by the formula :
Here r is rate of interest and t is time .
In the question P=1600 ,r=6.5%=0.065 ,t= 6 years
Substituting these values in the formula
A= 1600(1.48)
A=2363.17
Balance after 6years is $2363.17