Question

Jacob invests $8,634 in a savings account with a fixed annual interest rate of 2.67% compounded continuously. What will be the account balance be after 6 years?

Answer 1

$10134.12

Explanation:

Pe^(rt)

8634e^(0.0267)(6)

8634e^(0.1602)

= 10134.12

I hope this helps!