lisapressley2001 lisapressley2001

05-01-2017
Mathematics

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Suppose you invest $1,500 at an annual interest rate of 5% compounded continuously how much will you have in the account after 4 years?

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apologiabiology apologiabiology

05-01-2017

compounded continously is
[tex]A=Pe^{rt}[/tex]
P=principal
r=rate
t=time

given
P=1500
r=5%=0.05
t=4

[tex]A=1500e^{(0.05)(4)}[/tex]
[tex]A=1500e^{0.2}[/tex]
A=1832.104

yu wil have $1832.10

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