Register
Eugene invests $5,774 in a retirement account with a fixed annual interest rate of 6% compounded continuously. What will the account balance be after 14 years?
167k views
3 votes
Eugene invests $5,774 in a retirement account with a

fixed annual interest rate of 6% compounded continuously. What will the account
balance be after 14 years?

User Mtay
by
7.9k points

1 Answer

2 votes

Answer:

$13,374.70

Explanation:

Continuously compounded interest


A = Pe^(rt)


A = $5774e^(0.06 * 14)


A = $5774e^(0.84)


A = $13374.70

User Ryan McCarron
by
7.9k points
← Prev Question Next Question →

Related questions

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
How do you estimate of 4 5/8 X 1/3
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?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!