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13-02-2021
Mathematics

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If lucas puts $1500 in a saving account that pays 3% interest compounded annually, how much money will he have in the account after 5 years?

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Аноним Аноним

13-02-2021

Answer:A = 1500e^(0.03 * 5) = 1500e^(0.15)

use definition of logarithm

0.15 = ln(A / 1500)

0.15 = ln(A) - ln(1500)

ln(A) = 0.15 + ln(1500) = 0.15 + 7.313220387 = 7.463220387

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