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Martha accumulated $6000 in credit card debt. If the interest rate is 1.45% per year and she does not make any payments for four years how much will she owe on her debt in four years by compounding continuously.
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Martha accumulated $6000 in credit card debt. If the interest rate is 1.45% per year and she does not make any payments for four years how much will she owe on her debt in four years by compounding continuously. Round to the nearest cent.

User ITollu
by
6.6k points

1 Answer

3 votes

Answer:

$6,358.29

Explanation:

A=?

P=$6,000

r=0.0145

t=4 years

User Andrei Amarfii
by
6.3k points
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