Question

An initial amount of $1,000 is invested in an account at an interest rate of 2 percent per year, compounded continuously. Find the amount in the account after six years. Round your answer to the nearest cent.

Answer 1

please help i'll give out a medal! *flutters eye lashes*

Answer 2

1126 I think

Answer 3

how can that be right it's something like 1,000x .02/1 e something i just need to remind myself what the formula is :P

Answer 4

I added 2% to 1000 and then what I got from that I added 2% more and so on until I did it 6 times lol

Answer 5

thats not right at all! why would you add it 8 times?

Answer 6

lol

Answer 7

I am not good at math and I said 6 times lol

Answer 8

hehehe >.<

Answer 9

Someone please help I forgot the formula!!! Please I'm gonna die!!! D:

Answer 10

An initial amount of $1,000 is invested in an account at an interest rate of 2 percent per year, compounded continuously. Find the amount in the account after six years. Round your answer to the nearest cent.
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What I am seeing here is that 1000 is in a account and you get 2% bonus ever year for 6 years that's $20 the first year$ 20.40 the next year and so on and so on

Answer 11

Here you go mt dear:
\[\LARGE A=Pe^{rt}\]

Answer 12

*my

Answer 13

Thank you Luigi!!!! <3

Answer 14

I know I am not right I was just saying how I got my answer lol

Answer 15

Answer being: $1127.50

Answer 16

lol leo... >.<

Answer 17

OMG REALLY?

Answer 18

And anytime~

Answer 19

So I was almost right! I added it in my head lol

Answer 20

I feel so special now. :)

Answer 21

he answered what i wanted to know lol... the formula

Answer 22

Yeah I don't remember stuff like that I don't know why, I just am not good at math I am lucky to be in the 10th grade like I am right now lol

Answer 23

lol hey but were close!

Answer 24

What grade are you in?

Answer 25

I am good when it comes to money its just something I was born with lol

Answer 26

I'm in 12th grade studying College Calculus :P

Answer 27

o_o

Answer 28

GL.

Answer 29

GL?

Answer 30

Good luck. :)

Answer 31

oh lol thank you!