contestada

Anita opened a savings account and deposited $600.00 as principal. The account earns 6% interest, compounded continuously. What is the balance after 1 year?
Use the formula A=Pert, where A is the balance (final amount), P is the principal (starting amount), e is the base of natural logarithms (≈2.71828), r is the interest rate expressed as a decimal, and t is the time in years.
Round your answer to the nearest cent. ( help please)

Respuesta :

fnej

Answer:

$637.10

Step-by-step explanation:

Given:

P = 600

r = 6% or 0.06

t = 1

Work:

[tex]A=Pe^{rt}\\\\A=600e^{0.06*1}\\\\A=600e^{0.06}\\\\A=637.10[/tex]

Otras preguntas