Question

You invest $700 in an account that pays an interest rate of 6.5%, compounded continuously.
calculate the balance of your account after 20 years. round your answer to the nearest hundredth.

Answer 1

i got 26817.560

Answer 2

did you use PERT?

Answer 3

whats that?

Answer 4

A=Pe^rt

A= 700 e^(.065)(20years) = the answer

Answer 5

instead of .065 i did .65

Answer 6

is the answer 14940.226?

Answer 7

I dont have a calculator but you must use .065

Answer 8

it said that it was wrong & i did what you said & got 14940.226