Question

Suppose you invest $1,500 at an annual interest rate of 5% compounded continuously how much will you have in the account after 4 years?

Answer 1

compounded continously is

`A=Pe^(rt)`
P=principal
r=rate
t=time

given
P=1500
r=5%=0.05
t=4


`A=1500e^((0.05)(4))`

`A=1500e^(0.2)`
A=1832.104

yu wil have $1832.10