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$200 are deposited in an account with 6% interest rate, compounded continuously. What is the balance after 5 years
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$200 are deposited in an account with 6% interest rate, compounded continuously. What is the balance after 5 years

User Grumpasaurus
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The formula for compound interest is:
Amount = Principal (1+Rate/100)^(number of years)
Principal =$200 rate=6% Number of years=5
Amount = 200(1+6/100)^5
= 200(106/100)^5
= $268
User Palaniichuk Dmytro
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