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If you put $1,500 in a savings account that pays 4% interest compounded continuously, how much money will you have in your account in 5 years? Assume you make no additional depo…

If you put $1,500 in a savings account that pays 4% interest compounded continuously, how much money will you have in your account in 5 years? Assume you make no additional depo…
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If you put $1,500 in a savings account that pays 4% interest compounded continuously, how much money will you have in your account in 5 years? Assume you make no additional deposits or withdrawals.

A. $3,286.68
B. $1,832.10
C. $1,824.98
D. $9,160.52

User Peter Rasmussen
by
8.5k points

1 Answer

7 votes
you will have B. $1832.10 in your account in 5 years.
User Koedlt
by
8.4k points
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