Am i missing something?

Question

Suppose that $5000 is invested at an interest rate 9% compounded continuously. What is the balance after 6 years? 

 

i got an answer of 8580.03. Am i wrong? 

Answer 1

Hi melissa, 

 

When I calculated the interest rate, compounded daily, I got $ 8579.46 so it looks like you're pretty close!