NEED HELP!! GIVING MEDAL AND FAN!!!

You invest $1,600 in an account that pays an interest of rate of 6.5% compound continuously.

Calculate the balance of your account after 6 years. Round your answer to the nearest hundredth.

Question

NEED HELP!! GIVING MEDAL AND FAN!!!

You invest $1,600 in an account that pays an interest of rate of 6.5% compound continuously.

Calculate the balance of your account after 6 years. Round your answer to the nearest hundredth.

rosales0228 · Answer

@jim_thompson5910

jim_thompson5910 · Answer

You are now using the formula

A = P*e^(r*t)

jim_thompson5910 · Answer

P = 1600 (initial balance, ie principal)
r = 0.065 (interest rate as a decimal)
t = 6 years

jim_thompson5910 · Answer

'e' is a constant

e = 2.71828182846

it's like pi = 3.14...

jim_thompson5910 · Answer

your calculator should have an 'e' button so you don't have to type in 2.71828182846 every time

jim_thompson5910 · Answer

also the decimal expansion of 2.71828182846 goes on forever without any known pattern

rosales0228 · Answer

i got 2500.39? but it said it was wrong:(

jim_thompson5910 · Answer

A = P*e^(r*t)

A = 1600*e^(0.065*6)

A = ???

rosales0228 · Answer

i got 2500.39 again

jim_thompson5910 · Answer

I'm getting 2,363.16927021256 wolfram alpha gets the same thing http://www.wolframalpha.com/input/?i=1600*e^%280.065*6%29

rosales0228 · Answer

hmmm im wondering what im doing wrong

jim_thompson5910 · Answer

how are you typing it in?