An initial amount of 2300 is invested in an account at an interest rate of 1% per year, compounded continuously. Find the amount in the account after six years. Round your answer to the nearest cent.

Question

An initial amount of 2300  is invested in an account at an interest rate of 1% per year, compounded continuously. Find the amount in the account after six years. Round your answer to the nearest cent.

anonymous · Answer

I am coming up with 142

anonymous · Answer

142 dont forget the medal

anonymous · Answer

Do you ave a formula to go with?

anonymous · Answer

what?

anonymous · Answer

it's going to be a faily large number biger than the principle so that can't be right

anonymous · Answer

you invest 2300 and end up with 142?  damn remind me not to invest with you!

anonymous · Answer

you want to use 
$$A=2300e^{.01\times 6}$$

anonymous · Answer

a=pe^rt should do the trick

anonymous · Answer

i.e. 
$$2300e^{.06}=2442.22$$

anonymous · Answer

formula being 
$$A=Pe^{rt}$$ where P is what you start with (principle) r is rate as a decimal and t is time

anonymous · Answer

the profit I am coming up wityh with is 142