lewiskaeli lewiskaeli

14-06-2017
Mathematics

contestada

A continuously compounded account starts with $2500 in principal. The annual interest rate is 11.3%. What is the balance after 15 years?

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Pandapando Pandapando

14-06-2017

Here's your answer the symbol is too troublesome to type out

Ver imagen Pandapando

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Aliwohaish12 Aliwohaish12

14-06-2017

Hi there
The formula is
A=pe^rt
A future value?
P present value 2500
R interest rate 0.113
T time 15 years

A=2,500×e^(0.113×15)
A=13,616.61

Hope it helps

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