How much would 500 invested at 6 interest compounded continuously be worth after 5 years?

Answer 1

There's no such thing as "compounded continuously". Compounding always happens

at some "interval", like annually (once a year), quarterly (every 3 months), monthly,

or daily.

If the 6% is compounded annually, then in 5 years, your $500 becomes 500 x (1.06)5 = $669.11 . (rounded)

Compounded quarterly, it's $500 x (1.015)20 = $673.43

Compounded monthly, it's $500 x (1.005)60 = $674.43

Compounded daily, it's $500 x (1 + 0.06/365)1,825 = $674.91

(That last one may be off by a little bit; I don't know what banks do with Leap Year.)