SOLUTION: If you invest $3,000 in an account paying 3% compounded continuously, how much money will be in the account after 6 years?

Algebra ->  Customizable Word Problem Solvers  -> Misc -> SOLUTION: If you invest $3,000 in an account paying 3% compounded continuously, how much money will be in the account after 6 years?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 795538: If you invest $3,000 in an account paying 3% compounded continuously, how much money will be in the account after 6 years?
Answer by jim_thompson5910(35256) About Me  (Show Source):
You can put this solution on YOUR website!
A+=+Pe%5E%28rt%29

A+=+3000e%5E%280.03%2A6%29

A+=+3000e%5E%280.18%29

A+=+3000%281.19721736312189%29

A+=+3591.65208936568

A+=+3591.65

You will have $3591.65 in the account.