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How much money does Donald have after 5 years if he invested $15,000 at 1.75% compounded continuously?
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How much money does Donald have after 5 years if he invested $15,000 at 1.75% compounded continuously?

User Sandeep Garg
by
4.2k points

1 Answer

7 votes

Answer:

$ 16371.63

Explanation:

Future Value = present value * e^(i*t)

FV = 15000 e^(.0175 * 5 ) = 16371.63

User Ziewvater
by
5.0k points
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