Ask Question
14 June, 00:12

If you were to place $5,000 in a savings account that pays 6% interest compounded continuously, how much money will you have after 4 years? Assume you make no other deposits or withdrawals.

A. $6,356.25

B. $11,821.07

C. $5,024

D. $6,312.38

... ?

+3
Answers (1)
  1. 14 June, 00:16
    0
    FVn = P (1 + r/n) ^ Yn

    A. $6,356.25
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “If you were to place $5,000 in a savings account that pays 6% interest compounded continuously, how much money will you have after 4 years? ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers