You invest $1,600 in an account that pays an interest rate of 6.5%, compounded continuously. calculate the balance of your account after 6 years. round your answer to the nearest hundredth.

Let A be the amount needed
let P be the invested amount=$1600
let R be the interest rate =6.5%
let n be the rate/time=6 years
A=P[1+(R÷100)]^n
A=1600[1+(6.5÷100)]^6
A=1600[1+0.065]^6
A=1600[1.065]^6
A=1600×1.4591
A=2334.56
A=$2330

When rates are expressed as a quantity of 1, such as 2 feet per second or 5 miles per hour, they are called unit rates. if you have a multiple-unit rate such as 120 students for every 3 buses, and want to find the single-unit rate, write a ratio equal to the multiple-unit rate with 1 as the second term.