If you were to place $5,000 in a savings account that pays 6% interest compounded continuously, how much money will you have after 4 years? Assume you make no other deposits or withdrawals.

A. $6,356.25
B. $11,821.07
C. $5,024
D. $6,312.38

Question

If you were to place $5,000 in a savings account that pays 6% interest compounded continuously, how much money will you have after 4 years? Assume you make no other deposits or withdrawals.

   A. $6,356.25 
   B. $11,821.07 
   C. $5,024 
   D. $6,312.38

anonymous · Answer

does B=Pe^rt take part in anything in this

phi · Answer

yes

anonymous · Answer

mmmmhhh ok so i used that and got this 

$$B=5000e^.24$$

im not sure what else to do ...

phi · Answer

you should get a calculator, or type into google
5000*e^0.24=

anonymous · Answer

ohhh ok ill use my graphing calculator

anonymous · Answer

OHHHHH ! i got an answer haahha 6356.2457

anonymous · Answer

thankkkk you n_n @phi !!!

phi · Answer

yw