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. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. Business Math

    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

  3. Math Problem (please help)

    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?

You can view more similar questions or ask a new question.