U7L2: Continuously Compounded Interest

Willie invests $8,515 in a retirement account with a fixed annual interest rate of 5% compounded continuously. What will the account balance be after 20 years?

• $22,017.32

• $23,146.17

• $20,021.95

• $20,943.52

Mark invests $3,285 in a retirement

account with a fixed annual interest rate of

7% compounded continuously. What will

the account balance be after 18 years?

• $12,420.73

• $13,321.33

• $12,671.64

• $11,581.01

Sumalee invests $6,227 in a savings account with a fixed annual interest rate of 8% compounded continuously. What will the account balance be after 6 years?

• $10,685.57

• $11,011.00

• $10,369.77

• $10,063.30

Adam invests $5,208 in a savings account with a fixed annual interest rate of 8% compounded continuously. What will the account balance be after 8 years?

• $9,876.87

• $10,699.49

• $9,489.59

• $8,803.91

Chelsea invests $2,709 in a savings account with a fixed annual interest rate of 8% compounded continuously. What will the account balance be after 6 years?

• $4,248.56

• $3,941.57

• $4,377.95

• $4,041.35