Question

If $6000 is invested at 10% compounded continuously, the future value s at any time t (in years) is given by s

(a) s=6000e^0.10t
(b) s=6000(1+0.10t)
(c) s=6000(1−e^−0.10t)
(d) s=6000e^−0.10t

Answer 1

The formula for calculating future value when interest is compounded continuously is s = 6000e^0.10t.

Step-by-step explanation:

The formula for calculating the future value of an investment compound continuously is given by the equation s = 6000e^0.10t. Here, s represents the future value, t represents the time in years, and e is the mathematical constant approximately equal to 2.71828. By plugging in the values and solving for s, you can find the future value of the investment at any given time.