SOLUTION: A $9000 deposit in an account with an APR of 6.1% compounded continuously for 5 years.
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Question 1033295: A $9000 deposit in an account with an APR of 6.1% compounded continuously for 5 years.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A $9000 deposit in an account with an APR of 6.1% compounded continuously for 5 years.
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A(t) = P*e^(rt)
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A(5) = 9000*e^(0.061*5) = $12209.63
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Cheers,
Stan H.
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