148k views
3 votes
If you deposit $1,000 ir an account that pays 6% annual interest compounded continuously, what will the balance be after five years?

User Polypiel
by
8.5k points

1 Answer

0 votes

Answer:

If you know 6% of 1000 is 60 so each year 60 will add so 60x5 is 300 so you will earn 300 in 5 years.

Explanation:

User Rumeal
by
8.5k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories