Hey Abigail,
The formula for compounded interest is (initial investment)(1+interest rate)^(number of years)
If we plug in the numbers, you will see the value of the investment at the end of 6 years turned out to be $7164.31.
Abigail R.
asked • 03/12/21If $6000 is invested at 3% interest, find the value of the investment (in dollars) at the end of 6 years if the interest is compounded continuously. The value is $
Follow
•
1
Add comment
More
Report
1 Expert Answer
Still looking for help? Get the right answer, fast.
Ask a question for free
Get a free answer to a quick problem.
Most questions answered within 4 hours.
OR
Find an Online Tutor Now
Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.
