Solution
Step 1:
Write the compounded interest continuously formula.
[tex]\text{A = Pe}^{rt}[/tex]Step 2:
Given data
P = $6000
r = 6% = 0.06
t = 10 years
Step 3:
Substitute in the formula
[tex]\begin{gathered} A\text{ = Pe}^{rt} \\ A\text{ = 6000 }\times\text{ 2.7183}^{10\times0.06} \\ A\text{ = 6000 }\times\text{ 2.7183}^{0.6} \\ A\text{ = 6000 }\times\text{ 1.822126} \\ A\text{ = \$10932.76} \end{gathered}[/tex]Final answer
A = $10933 ( nearest whole number)
