Mathematics

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

1 Answer

  • 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.

NEWS TODAY