you invest $4,200 in an account that pays an interest rate of 6.5%, compounded continuously calculate the balance of your account after 10 years. round your an
Mathematics
kikihaigler
Question
you invest $4,200 in an account that pays an interest rate of 6.5%, compounded continuously
calculate the balance of your account after 10 years. round your answer to the nearest hundredth
calculate the balance of your account after 10 years. round your answer to the nearest hundredth
1 Answer

1. User Answers aliyahmcintosh7
A=4200*e^.65
A=$8045.27
This is almost doubling, and the rule of 72 would predict doubling in 11 years, so the answer makes sense.