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GIVING 15 PTS HELP PLEASEEEEE

GIVING 15 PTS HELP PLEASEEEEE
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GIVING 15 PTS HELP PLEASEEEEE

GIVING 15 PTS HELP PLEASEEEEE-example-1
User Gen Tan
by
8.3k points

1 Answer

2 votes

9514 1404 393

Answer:

$2352

Explanation:

The second formula applies for continuous compounding. You have ...

P = $1500, r = 0.0225, t = 20

Then ...

A = $1500e^(0.0225·20) ≈ $2352

Ted will have $2352 after 20 years.

User Ram Vennam
by
8.6k points
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