SOLUTION: I need some help with this problem please. Thanks $600 is deposited in an account paying 6% compounded continuously, then what amount will be in the account after 8 years?

Question 538406: I need some help with this problem please. Thanks
$600 is deposited in an account paying 6% compounded continuously, then what amount will be in the account after 8 years?

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
$600 is deposited in an account paying 6% compounded continuously, then what amount will be in the account after 8 years?
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A(t) = P*e^(rt)
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A(8) = 600*e^(0.06*8)
A(8) = 600*1.6161 = $969.64
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Cheers,
Stan H.
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