Nadav invests $6,000 in an account that earns 5% interest compounded continuously. What is the total amount of her investment after 8 years?

Round your answer to the nearest cent.

a. $327,588.90

b. $8950.95

c. $9850.95

d. $14,950.95

8950.95

The answer should be about 8,400.00 if you use the A (P + r*t) formula but it isn't one of the answers. I'd go for c since it's the closest you can get.

Step-by-step explanation:

A = P (1 + r*t) Insert the numbers

A = 6000 (1 + (0.05 * 8)) = 8400

A = $8,400.00

The total amount accrued, principal plus interest, from simple interest on a principal of $6,000.00 at a rate of 5% per year for 8 years is $8,400.00.