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Suppose that $7,000 is invested at an interest rate of 6%, compounded continuously. Find the amount in the account after five years if no withdrawals are made

Suppose that $7,000 is invested at an interest rate of 6%, compounded continuously. Find the amount in the account after five years if no withdrawals are made
asked 75.4k views
2 votes
Suppose that $7,000 is invested at an interest rate of 6%, compounded continuously. Find the amount in the account after five years if no withdrawals are made

asked
User Anirudha Agashe
by
8.5k points

2 Answers

4 votes
9100 is the answer to this problem
answered
User Jubnzv
by
8.2k points
5 votes

Answer:

9100

Explanation:

I=Prt

I=7,000(.06)5

I=420(5)

I=2,100

2,100+7,000=9,100

answered
User Eric Niebler
by
7.4k points
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