Question

Suppose you deposit $6000 in a savings account that pays interest at an annual rate of 4% compounded continuously. In 8 years, what will the balance in the account be?

Answer 1

Idk sorry for that ‍♀️‍♀️

Answer 2

`\bf ~~~~~~ \textit{Continuously Compounding Interest Earned Amount} \\\\ A=Pe^(rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\to& \$6000\\ r=rate\to 4\%\to (4)/(100)\to &0.04\\ t=years\to &8 \end{cases} \\\\\\ A=6000e^(0.04\cdot 8)\implies A=6000e^(0.32)`