Answer: There will be $2951.52 money in the account in 15 years
Explanation:
Given: Principal ; P = $1200
Interest rate;r = 6% compounded continuously
Time; t = 15 years
As we know the compounded continuously formula is given by
where A is amount , P is principal , r is rate, t is time and e be the mathematical constant.
So according to question we have
Hence, there will be $2951.52 money in the account in 15 years