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Dylan invested $20,000 in an account paying an interest rate of 5.3% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, …

Dylan invested $20,000 in an account paying an interest rate of 5.3% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, …
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Dylan invested $20,000 in an account paying an interest rate of 5.3% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest cent, would be in the account after 5 years?

asked
User Webmasters
by
7.7k points

1 Answer

4 votes

Answer:

$24,240

Explanation:

20,000 + 1,060 (5-1)

answered
User Adnan Aftab
by
8.6k points
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