If you deposit $1,000 in an account that pays 6% annual interest compounded continuously, what will the balance be after five years?

Question

anonymous · Answer

Will give medal. I am confused because I derived an equation from this information, but the answer that I come up with odes  not match the given choices.
Plz explain.

anonymous · Answer

What are the choices

some.random.cool.kid · Answer

1349.60

some.random.cool.kid · Answer

P = principal amount (the initial amount you borrow or deposit)
r  = annual rate of interest (as a decimal)
t  = number of years the amount is deposited or borrowed for.
A = amount of money accumulated after n years, including interest.
n  =  number of times the interest is compounded per year

anonymous · Answer

Here is what I came up with. Tell me where I went wrong plz.

anonymous · Answer

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