Question

You invest $4,200 in an account that pays an interest rate of 6.5%, compounded continuously

calculate the balance of your account after 10 years. round your answer to the nearest hundredth

Answer 1

A=4200*e^.65
A=$8045.27
This is almost doubling, and the rule of 72 would predict doubling in 11 years, so the answer makes sense.