Question

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?

Answer 1

Compounded continously is
$A=Pe^{rt}$
P=principal
r=rate
t=time

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

$A=1500e^{(0.05)(4)}$
$A=1500e^{0.2}$
A=1832.104

yu wil have $1832.10