Respuesta :
Answer: the balance is $5328.95
Step-by-step explanation:
The formula for continuously compounded interest is
A = P x e (r x t)
Where
A represents the future value of the investment after t years.
P represents the present value or initial amount invested
r represents the interest rate
t represents the time in years for which the investment was made.
e is the mathematical constant approximated as 2.7183.
From the information given,
P = 3200
r = 8.5% = 8.5/100 = 0.085
t = 6 years
Therefore,
A = 3200 x 2.7183^(0.085 x 6)
A = 3200 x 2.7183^(0.51)
A = $5328.95 to the nearest hundredth
Answer:
FOR PLATO/EDMENTUM USER THE right answer is: 5328.93
Step-by-step explanation:
