An initial amount of $2000 is invested in an account at an interest rate of 5% per year, compounded continuously. Find the amount in the account years. Round your answer to the nearest cent.

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asked Jan 8, 2022 59.4k views

2 votes

An initial amount of $2000 is invested in an account at an interest rate of 5% per year, compounded continuously. Find the amount in the account

years. Round your answer to the nearest cent.

An initial amount of $2000 is invested in an account at an interest rate of 5% per-example-1

Mathematics
high-school

Tanekqua asked

by Tanekqua

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2 Answers

3 votes

Answer:

$2,100.00

Explanation:

Jigme answered Jan 10, 2022

by Jigme

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6 votes

Answer:

600 dollars a year

Explanation:

I=prt is the formula for simple interest.

2000×0.05×6 = 600

Torben Pi Jensen answered Jan 13, 2022

by Torben Pi Jensen

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