SOLUTION: Suppose that $2000 is invested at a rate of 6% per year compounded continuously. What is the balance after 1 yr? After 2 yrs?

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Question 134316: Suppose that $2000 is invested at a rate of 6% per year compounded continuously. What is the balance after 1 yr? After 2 yrs?
Answer by MathLover1(20850) About Me  (Show Source):
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%281yr%29
+A+=+2000+%2B+2000%28.06%2A1%29
A+=+2000+%2B+120
A+=+2120..........the balance after 1 year
(2yr)
A+=+2000+%2B+2000%28.06%2A2%29
A+=+2000+%2B+2000%28.12%29
A+=+2000+%2B+240
A+=++2240.........the balance after 2 years