The amount A when the principal P is compounded continuously is given by the formula :
[tex] A=P E^{rt} [/tex]
Here r is rate of interest and t is time .
In the question P=1600 ,r=6.5%=0.065 ,t= 6 years
Substituting these values in the formula
[tex] A=(1600) e^{0.065 times 6} [/tex]
A= 1600(1.48)
A=2363.17
Balance after 6years is $2363.17
