Question

You deposit $1000 in an account that pays 6% annual intrest compounded continuously. find the balance at the end of 2 years

Answer 1

in the case of compound interest use
amount = principal * ((1+r/100)^n)
here principal =1000 and r=6 and n=2 and u have to find amount
hope it is easy for you to solve

Answer 2

i got 1.0006

Answer 3

no check your calculation again

Answer 4

1.1236

Answer 5

amount= 1000 *(1+6/100)^2
=1000*1.06*1.06=1000*1.1236=1123.6

Answer 6

oh i forgot the *...thank you

Answer 7

welcome dear