An initial amount of
is invested in an account at an interest rate of
per year, compounded continuously. Find the amount in the account after six years. Round your answer to the nearest cent.

  1. 👍 0
  2. 👎 0
  3. 👁 157
  1. 2900*e^(.04*6)

    1. 👍 0
    2. 👎 0
    posted by Steve

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math(simple interest)

    Mr.X invested a total of Rs.10,000 in three different accounts, the Accounts paid simple interest at an annual rate of 8%,9% and 7.5% respectively. Total interest earned for the year was Rs.845. The amount in the 9% account was

    asked by Ana...... :) on January 8, 2017
  2. Algebra

    Jon invested a total of $40,000 in 3 different bank accounts. One pays an annual interest rate of 3%, the second account pays 5% annual interest and the third account pays 6% annual interest. In one year, Jon earned a total of

    asked by nimsaj on August 24, 2017
  3. math

    Each year, Cathy invests $1,200 in her account. The account pays an interest rate of 6.3%. The formula to calculate the balance in her account is B =A(1+ r)n+1- A, where r A is the amount invested per year, r is the interest rate,

    asked by michelle on June 8, 2011
  4. math

    A total of 8000 dollars is invested in two funds paying 4 percent and 5 percent annual interest,. The combined interest for the year is 350 dollars. How much of the 8000 dollars is invested in each fund? Put the amount of money

    asked by Shiv on April 15, 2018
  5. algebra

    A total of $6200 is deposited into two simple interest accounts. On one account the annual simple interest rate is 2%, and on the second account the annual simple interest rate is 4%. The amount of interest earned for 1 year was

    asked by Emmett on July 28, 2012
  6. Math

    3. If the banks returned all the money plus interest accumulated from 1938 to 1998 it could be calculated using A=A0 (1.05)^t where A is the amount of money to be returned A0 was the initial amount and t is the number of years

    asked by David on April 3, 2018
  7. algebra

    A total of $12,000 is invested in two funds paying 9% and 11% simple interest. If the yearly interest is $1,180, how much of the $12,000 is invested at each rate? We have two unknowns: the amount of money invested at 9% and the

    asked by lin on October 6, 2012
  8. Math

    Your Aunt will give your $1,ooo if you invest it for 10 years in an account that pays 20% interest compounded annually. That is, at the end end of each year your interest will be added to your account and invested at 20%. What

    asked by Natalie on August 30, 2006
  9. Algebra

    A total of $7000 is invested in three accounts. Some was invested at 6%, some at 8%, and the rest at 9%. find the amount invested at each rate if the total interest for one year was $555 and the amount invested at 8% was three

    asked by Diego on December 4, 2014
  10. Math

    Larry has an annual return of $213.00 from $3000.00 invested at simple interest. One at 5% and the other at 8%. How much is invested at each rate. (Hint, Interest earned = amount invested x rate of interest.)

    asked by Lyn on September 10, 2012

More Similar Questions