Question

If you invest $2500 in an account paying 15.5% compounded continuously, how much money will be in the account at the end of three years?

Answer 1

we can use the formula

`C=c*(1+t)^n`

Where C is the total capital, c the initial capital, t the interest rate and n the years

we just replace

`C=2500*(1+0.155)^3`
`C=3851.99\approx3852`

at the end of 3 years will be $3852