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$1500 is deposited into an account that is compounded continuously at a rate of 5%. Approximately how much money will be in the account in 12 years? Round to the nearest cent.

$1500 is deposited into an account that is compounded continuously at a rate of 5%. Approximately how much money will be in the account in 12 years? Round to the nearest cent.
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$1500 is deposited into an account that is compounded continuously at a rate of 5%. Approximately how much money will be in the account in 12 years? Round to the nearest cent.

User Knitschi
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3 votes
use the Pe^rt formula
1500e^(.05)(12)
1500e^.6
=2733.178201
~$ 2733.18
$1500 is deposited into an account that is compounded continuously at a rate of 5%. Approximately-example-1
User Nikita Tonkoskur
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