Answer:
$877.41
Step-by-step explanation:
Formula for continuous compounding interest is Pe^(rt) where P is the startign amount, e is the number e, r is the rate and t is how many years. Let's see if we have all of that.
P = 650
r = .05
t = 6
then just plug it into a calculator.
650 * e^(.05*6) = 877.41
I feel it important to mention for r if you have it in % you turn it to dcimal form by moving the decimal place left twice, or in other words devide the number by 100. and t needs to always be in years.
