# PRE-CALC

If you put \$2,000 in a savings account that pays 6% interest compounded continuously, how much money will you have in your account in 4 years? Assume you make no additional deposits or withdrawals

1. 👍
2. 👎
3. 👁
1. 2,000 e^.06 t

2,000 e^.24

2,000 * 1.27124915

\$ 2,542.50

1. 👍
2. 👎
2. thanks Damon :)

1. 👍
2. 👎
3. How long will it take \$8000 to grow to \$20,000 if the rate of interest is 7% compounded continuously?

1. 👍
2. 👎

## Similar Questions

Shelley Katz deposited \$30,000 in a savings account at 5% interest compounded semiannually. At the beginning of year 4, Shelley deposits an additional \$80,000 at 5% interest compounded semiannually. At the end of 6 years, what is

2. ### FINANCE

You deposit \$2,000 in an account that pays 8% interest compounded semiannually. After 4 years, the interest rate is increased to 8.28% compounded quarterly. What will be the value of the account after 4 more years? (Do not round

On the day of a child's birth, a deposit of \$30,000 is made in a trust fund that pays 3% interest, compounded continuously. Determine the balance in this account on the child's 30th birthday. (Round your answer to two decimal

4. ### introduction to finance-16

if you put \$4000 in savings account that pays interest rate of 4%, compounded annually, how much will you have in 5 years? How much interest will you earn during the 5 years? If you put \$4000 each year into a savings account that

1. ### Algebra ASAP

Suppose that \$17,000 is invested in a savings account paying 5.1% interest per year. (a) Write the formula for the amount A in the account after t years if interest is compounded monthly. A(t) = (b) Find the amount in the account

2. ### pre-algebra

You split \$1500 between two savings accounts. Account A pays annual 5% interest and Account B pays 4% annual interest. After one year,you have earned a total of \$69.50 in interest. How much money did you invest in each account?

3. ### Math

A person deposited \$500 in a savings account that pays 5% annual interest that is compounded yearly. At the end of the 10 years, how much money will be in the savings account?

4. ### differential equation

If P(t) is the amount of dollars in a savings bank account that pays a yearly interest rate of r% compounded continuously ,then dP/dt=(r/100)(P) , t in years . Assume the interest is 5% annually ,P(0)=\$1000 ,and no monies are

1. ### Math help! Check my answers ASAP!

1. Which graph most likely describes the distance a person walks in a 24-hour period? (1 point) a. Graph IV** b. Graph II c. Graph I d. Graph III 2. A car traveling at 25 mi/h accelerates to 48 mi/h over the first 5 seconds. It

2. ### algerbra 2

If \$ 2500 is invested in an account that pays interest compounded continuously, how long will it take to grow to \$ 7500 at 8%?

3. ### alegbra 2

Earning interest- You deposit \$1000 in an account that pays 6% annual interest compounded continuously. Find the balance at the end of 2 years.

4. ### algebra

you deposit 8500 dollars in an account that pays you 3.5 % interest compounded continuously. How long will it take for the money to triple?