Question

Sorry again, another answer please?
Jennifer invested $2,500 in an account earning 3.5% interest compounded continuosly. How much money will she have in the account after 15 years?

Answer 1

compounded continuously; which is a make believe situation when it comes to money I believe; follows the formula:

A = P e^(rt)

Answer 2

change your rate(r) into its decimal equivalent tho ..

3.5% = .035

Answer 3

I got 3,547.67

Answer 4

2500 e^(.035*15) = 4,226.147... is what google gives me :)

http://www.google.com/search?sourceid=chrome&ie=UTF-8&q=2500+e^(.035*15)

Answer 5

thanks.

Answer 6

yep :)