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Liula [17]
3 years ago
7

You invest $1500 in a bank account that has a 3% annual interest rate, compounded continuously. How much will you have in 15 yea

rs?

Mathematics
1 answer:
Mandarinka [93]3 years ago
8 0
We use the formula:
Total = Principal * e ^ (rate * years)
Total = 1,500 * e ^ (.03 * 15)
Total = 1,500 * e ^ .45
Total = 1,500 * <span> <span> <span> 1.5683121854 </span> </span> </span>
Total = <span> <span> <span> 2,352.47 </span> </span> </span>


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