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To save for a new car, Trafton invested $5,000 in a savings account that earns 2.5% interest, compounded continuously. After four years, he wants to buy a used car for $6,000. How much money will he need to pay in addition to what is in his savings account? (Round your answer to the nearest cent.)

Learn how to calculate the additional amount needed to purchase a car after investing $5,000 at a 2.5% continuous compounding interest rate over four years. This problem involves continuous compound interest formulas and exponential functions, ideal for students in Grades 10-12.

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