Question

An original investment of $15,000 earns 7.25% interest compounded continuously. What will the investment be worth in 3 years? 30 years?
After 3 years, the investment will be worth $
(Do not round until the final answer. Then round to the nearest cent as needed.)

Answer 1

Answer:

$A = Pe^{rt}$

A = 1500$e^{.0725 t}$

3 years = $18,644.48

30 years = $132,032.78

Step-by-step explanation: