Question

if $7000 is invested at a rate of 6% compounded continuously, find the balance in the account after 7 years

Answer 1

this is a simple problem just google the formula for compound interest and substitute your values.

Answer 2

a= p(1+r/t)^nt

Answer 3

but i dont know how to plug it in like you said

Answer 4

a= p(1+r/t)^nt ,this for compouded semiannually

for compounded continuously you use
a=7000.e^(0.06*7)

Answer 5

I hpoe it help

Answer 6

for compouded semiannually you plug
a=7000(1+0.06/2)^(2*7)
for compounded monthly you use this;
a= 7000(1+0.06/12)^(12*7)