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An initial deposit of $50,000 is put into a savings account that has an interest rate of 5.6% compounded continuously. How much will be in the account at the end of 5 years?
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An initial deposit of $50,000 is put into a savings account that has an interest rate of 5.6% compounded continuously. How much will be in the account at the end of 5 years?

User James LT
by
8.2k points

1 Answer

9 votes
36000
step by step:

50000x(5.6x5)%=14000
50000-14000=36000
User Md Nazmoon Noor
by
8.8k points
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