Mark puts 800.00 into an account to use for school expenses. The account earns 13% interest, compounded continuously. How much will be in the account after 6 years?

Solution

Solution

Amount : 1745.18

Solution steps

Translate the problem into an equation:

A = 800 e^{0.13 \cdot 6}

800 e^{0.13 \cdot 6} = 1745.17781 \dots

Round to the nearest hundredth:

1745.18

Amount : 1745.18

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