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10 December, 22:31

You invest 2,200 in an account that pats an interest rate of 8.5% compounded continuously what's the balance after 6 years

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  1. 10 December, 22:51
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    Let's find the equation.

    2,200*1.085^x=y

    We need x to equal 6.

    2,200*1.085^6=y

    2,200*1.631467508843266

    3,589.23

    The balance after six years is $3,589.23.
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