Question 126638: Suppose that $2000 is invested at a rate of 6% per year compounded continuously. What is the balance after 1 year? After 2 years? Answer by checkley71(8403) (Show Source):
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2000*2.718^(.06*1)
2000*2.718^.06
2000*1.062=$2,123 AMOUNT OF THE INVESTMENT AFTER 1 YEAR.
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2000*2.718^(.06*2)
2000*2.718^.12
2000*1.127=$2,254.97 AMOUNT OF THE INVESTMENT AFTER 2 YEARS.
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