Thursday
March 23, 2017

Post a New Question

Posted by on Thursday, April 19, 2012 at 1:29pm.

find the balance after 15 years of a $2500 investment earning 5.5% interest compounded continuously

Someone show me how to do this, please?!

  • Finance/ MAth - , Saturday, April 21, 2012 at 7:36pm

    P = Po*e^rt.

    r = 0.055 = APR expressed as decimal.
    t = 15 Years.

    rt = 0.055*15 = 0.825.
    P = 2500*e^0.825 = $5704.70.

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question