You invest $4,900 in an account that pays an interest rate of 5.5%, compounded continuously. Calculate the balance of your account after 6 years. Round your answer to the nearest hundredth

Question

anonymous · Answer

31062.2941 ?

amistre64 · Answer

pert again....2 minutes ago  
amistre64  252  9 3 medals for this answerer. 
Give Medal 
Medal GivenUndo 4900(e^(.055)(6))a minute ago  
amistre64  252  9 3 medals for this answerer. 
Give Medal 
Medal GivenUndo plug that into google and the calc will spit back an answer

anonymous · Answer

i did & i got 31062.2941

amistre64 · Answer

it read it wring; gotta tell it to keep the exponents together

amistre64 · Answer

4900 * (e^(.055 * 6)) = 6815.743

amistre64 · Answer

at first it did (e^.055)*6 :)

anonymous · Answer

i still didn't get that answer

amistre64 · Answer

odd....cause thats a copy and paste off the google itself...

anonymous · Answer

maybe i did something wrong lol

amistre64 · Answer

this is the wrong one...4900 * ((e^.055) * 6) = 31062.2941; see how it interpreted it wrong :)