if you deposit $1000 in an account that pays 6% annual interest compounded continuously, what will the balance be after five years?

asked Aug 3, 2018 23.3k views

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The formula is

B = 1000e^(yr) where y = 5 years and r = 0.06 ( = 6%)

so answer is 1000e^(5*0.06) = $1349.86

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