Question

FlybynightSavings.com is offering a savings account that pays 29% compounded continuously. How much interest would a deposit of $2,000 earn over 15 years? (Round your answer to the nearest cent.)

Answer 1

Present value, P = 2000
interest rate, i = 29% continuous     (sounds VERY generous, pl. chk for typo)
Number of periods, n = 15 years

Future value
$F=Pe^{it}$
$=2000e^{.29*10}$
$=36348.29$   to the nearest cent