SOLUTION: Melanie invests $8800 in a new savings account which earns 4.6% annual interest, compounded continuously. What will be the value of her investment after 6 years? Round to the nea

Algebra ->  Logarithm Solvers, Trainers and Word Problems -> SOLUTION: Melanie invests $8800 in a new savings account which earns 4.6% annual interest, compounded continuously. What will be the value of her investment after 6 years? Round to the nea      Log On


   

Question 1140496: Melanie invests $8800 in a new savings account which earns 4.6% annual interest, compounded continuously. What will be the value of her investment after 6 years? Round to the nearest cent.
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
This is P=Poe^rt
=8800*e^(.046*6)
=8800*e^(0.276)
=$11597.06