If you put $2,000 in a savings account that pays 6% interest compounded continuously, how much money will you have in your account in 4 years? Assume you make no additional deposits or withdrawals.
(Points : 2)
$2,542.50

$8,326.49

$3,168.15

$2,983.65

Question

If you put $2,000 in a savings account that pays 6% interest compounded continuously, how much money will you have in your account in 4 years? Assume you make no additional deposits or withdrawals.
(Points : 2)
       $2,542.50

       $8,326.49

       $3,168.15

       $2,983.65

johnweldon1993 · Answer

$$\large A = Pe^{rt}$$

P = original amount (2000)
r = rate of interest (.06)
t = time in years (4)

Plug into the equation and solve for A

anonymous · Answer

I don't understand how to solve it though..

tkhunny · Answer

Have you considered substituting the given values into their respective positions in the formula that was provided?