Question

Find the amount of money

accumulated after investing a
principle P for years t at interest
rate r, compounded continuously.
t = 6
P = $1,500 r = 7%

Answer 1

`~~~~~~ \textit{Continuously Compounding Interest Earned Amount} \\\\ A=Pe^(rt)\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill & \$1500\\ r=rate\to 7\%\to (7)/(100)\dotfill &0.07\\ t=years\dotfill &6 \end{cases} \\\\\\ A=1500e^(0.07\cdot 6)\implies A=1500e^(0.42)\implies A\approx 2282.94`