shelbournecrysour0bm shelbournecrysour0bm
  • 20-04-2018
  • Mathematics
contestada

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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perixwinkle
perixwinkle perixwinkle
  • 20-04-2018
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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