Register

If you were to place $5000 in a savings account that pays 6% interest compounded continuously how much money will you have after 4 years?

If you were to place $5000 in a savings account that pays 6% interest compounded continuously how much money will you have after 4 years?
71.7k views
12 votes
If you were to place $5000 in a savings account that pays 6% interest compounded continuously how much money will you have after 4 years?

User Eekhoorn
by
7.9k points

2 Answers

1 vote

Answer:

The correct answer is $6,356.25.

Explanation:

User David Grenier
by
8.6k points
11 votes

Answer:

I think it would come out to be $6312.38

User Maurice Reeves
by
8.1k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Write words to match the expression. 24- ( 6+3)
A dealer sells a certain type of chair and a table for $40. He also sells the same sort of table and a desk for $83 or a chair and a desk for $77. Find the price of a chair, table, and of a desk.
Link Copied!