SOLUTION: you deposit $1000 in an account that pays 6% annual interest compounded continuously. find the balance at the end of 2 years.

SOLUTION: you deposit $1000 in an account that pays 6% annual interest compounded continuously. find the balance at the end of 2 years.

Algebra.Com

Question 306067: you deposit $1000 in an account that pays 6% annual interest compounded continuously. find the balance at the end of 2 years.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=Pe^rt
A=1000(2.7183)^.06*2
A=1000(1.12749)
A=$1127.50
RELATED QUESTIONS
You deposit $800 in an account that pays 5 1/2% annual interest compounded continuously.... (answered by ikleyn)

You deposit $1400 in an account that pays 3% annual interest compounded continuously.... (answered by solver91311)

you deposit $1400 into an account that pays 3% annual interest compounded continuously... (answered by lynnlo)

you deposit $725 in an account that pays 4.5% annual interest compounded continuously.... (answered by stanbon)

You deposit 500 in an account that pays 5% annual interest compounded continuously. What... (answered by lwsshak3)

You deposit $2500 in an account that pays 3.5% annual interest compounded continuously.... (answered by rfer)

If you deposit $1000 in an account that pays 6% annual interest commpounded continuously, (answered by jim_thompson5910)

you deposit $3000 in an account that pays 6% annual interest. find the balance after 2... (answered by palanisamy)

You desposit $5000 in an account that pays 7% annual interest compounded continuously.... (answered by Alan3354)