Question

Suppose that 60,000 is invested at 2% interest, compounded continuously. What is the future value of the investment after 5 years?

Answer 1

Answer:

$66000$

Step-by-step explanation:

$A = P(1 + rt)$

$A=60000(1+2/100*5)$

$A= 60000(1.1)$

$A=66000$