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18 June, 16:22

Natalie invested $1,200 in an account paying an interest rate of 6.4% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 17 years?

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  1. 18 June, 17:41
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    FV=$3,445

    Step-by-step explanation:

    FV=PV (1+i) ^n (FV: Future value, PV: Present value)

    i=0.064

    n=17

    FV=1200 (1+0.064) ^17

    FV=3444.9975

    FV=$3445.00
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