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Sagot :
In order to calculate how much will be owed, we can use the formula below for interest compounded continuously:
[tex]A=P\cdot e^{rt}[/tex]Where A is the final amount after t years, P is the initial amount and r is the interest rate.
So, using P = 1300, r = 0.04 and t = 6, we have:
[tex]\begin{gathered} A=1300\cdot e^{0.04\cdot6}\\ \\ A=1300\cdot e^{0.24}\\ \\ A=1652.62 \end{gathered}[/tex]Therefore the amount owed after 6 years is $1652.62.
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