anonymous
  • anonymous
If you put $1,500 in a savings account that pays 4% interest compounded continuously, how much money will you have in your account in 5 years? Assume you make no additional deposits or withdrawals.
Mathematics
schrodinger
  • schrodinger
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anonymous
  • anonymous
1500 x.04 = 60 60 x 5= 300 Annual Interest= 300
alexwee123
  • alexwee123
|dw:1338928964162:dw| is the compounded continuously formula where P is the principal amount r=rate and t=time
alexwee123
  • alexwee123
so... |dw:1338929022971:dw|

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