Final answer:
Jenn will have approximately $2472.59 after 4 years if she invests $2150 at a 3.5% interest rate compounded continuously, calculated using the formula for continuous compounding.
Step-by-step explanation:
The question involves determining how much Jen will have after 4 years if she invests $2150 at a 3.5% interest rate compounded continuously. Using the formula for continuous compounding A = Pert, where A is the amount of money accumulated after n years, including interest, P is the principal amount (the initial amount of money), r is the annual interest rate (decimal), t is the time the money is invested for in years, and e is the base of the natural logarithm, we can calculate Jen's investment growth.
To find the future amount of Jen's investment, we plug in her values into the formula:
A = 2150e0.035 × 4
Calculating this using a calculator that can handle the natural exponent, we get:
A = 2150e0.14 = 2150 × 1.150273 = $2472.59 (approximately)
After 4 years, Jen will have approximately $2472.59.