Register
If you deposit $1,000 ir an account that pays 6% annual interest compounded continuously, what will the balance be after five years?
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
5.1k 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
5.3k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

5.1m questions

6.7m answers

Other Questions

What number is halfway between 0 and 18
If the 9-inch wheel of cheese costs $18.60, what is the cost per square inch? If the cost is less than a dollar, put a zero to the left of the decimal point?
Need answer to math problem!!!​
Which property is shown in the problem below? -8(x-3y-9) = -8x+24y+72 A the associative property B the commutative property C the distributive property D the division property ASAP
What is the domain and range?
Link Copied!