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A college savings fund is opened with a $12,000 deposit. The account earns 6.55% annual interest compounded continuously. What will the value of the account be in 18 years?

A college savings fund is opened with a $12,000 deposit. The account earns 6.55% annual interest compounded continuously. What will the value of the account be in 18 years?
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3 votes
A college savings fund is opened with a $12,000 deposit. The account earns 6.55% annual interest compounded continuously. What will the value of the account be in 18 years?

asked
User Avinash Ravi
by
8.0k points

1 Answer

5 votes

Answer:

$26,704.29

Explanation:

answered
User Ian Fellows
by
7.8k points
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