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To save for a new car, Trafton invested $5,000 in a savings account that earns 6.5% interest, compounded continuously. After four years, he wants to buy a used car for $7,000. How much money will he need to pay in addition to what is in his savings account?

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Answer:

Explanation:

To save for a new car, Trafton invested $5,000 in a savings account that earns 6.5% interest, compounded continuously. After four years, he wants to buy a used car for $7,000. How much money will he need to pay in addition to what is in his savings account?

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