Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

pauli

  • 2 years ago

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. a. $2,542.50 b. $8,326.49 c. $3,168.15 d. $2,983.65 this section is really confusing for me/:

  • This Question is Closed
  1. FeoNeo33
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    2,000 / 10 = 200 / 5 = 100 100 = 5%... 100 x 4 = 400... The answer is a.

  2. pauli
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    thanks!

  3. FeoNeo33
    • 2 years ago
    Best Response
    You've already chosen the best response.
    Medals 0

    Medal please

  4. Not the answer you are looking for?
    Search for more explanations.

    • Attachments:

Ask your own question

Sign Up
Find more explanations on OpenStudy
Privacy Policy