If $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 $

Answer 1

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.