How many feet are in a yard? How many feet are in a mile? How many yards are in a mile? Please answer this. Thank you!
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The amount of money you have is $ 20864.521
<h3><u><em>Solution:</em></u></h3>Given that you invested $15,000 dollars for 11 years at 3% annual interest compounded continuously.
To find: total amount of money
<em><u>The compound interest formula for compounded continously is given as:</u></em>
Where "p" is the principal
"r" is the rate of interest
"t" is the number of years
Here in this problem, p = 15000
t = 11 years
<em><u>Substituting the values in formula we get,</u></em>
Thus the amount of money you have is $ 20864.521