Ask Question
27 September, 10:41

You invest 2,600 in an account that pays an interest rate of 8.5% compounded continuously. Calculate the balance of your account after 5 years

+3
Answers (1)
  1. 27 September, 11:02
    0
    The formula is

    A=p e^rt

    A future value?

    P present value 2600

    R interest rate 0.085

    T time 5years

    E constant

    A=2,600*e^ (0.085*5)

    A=3,976.94
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You invest 2,600 in an account that pays an interest rate of 8.5% compounded continuously. Calculate the balance of your account after 5 ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers