Isabella invests $10,000 in an account that is compounded continuously at an annual interest rate of 3%, according to the formula A=Pert , where A is the amount accrued, P is the principal, r is the rate of interest, and t is the time, in years. Apply the formula to find out how much Isabella’s investment will be worth in 15 years, to the nearest dollar.(1 point)
Responses
$10,304
$10,304
$900,171
$900,171
$15,683
$15,683
$13,499
To find out how much Isabella's investment will be worth in 15 years, we need to use the formula A = Pert.
P = $10,000 (the principal amount)
r = 0.03 (annual interest rate expressed as a decimal)
t = 15 (time in years)
A = 10,000 * e^(0.03 * 15) ≈ $13,499
Therefore, Isabella's investment will be worth approximately $13,499 in 15 years.