Finance/ MAth

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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 -

    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.

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