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OpenStudy (anonymous):
I've been trying to solve this problem, came up with the same answers, yet my answer has been incorrect. Help anyone? FlybynightSavings.com is offering a savings account that pays 29% compounded continuously. How much interest would a deposit of $2,000 earn over 15 years? (Round your answer to the nearest cent.)
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OpenStudy (anonymous):
My previous was: $ 154956.93
hero (hero):
What formula did you use?
OpenStudy (anonymous):
pe^rt
hero (hero):
Okay, that's the right formula
hero (hero):
r = 1.29, right?
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OpenStudy (anonymous):
I got 1000e^(.29)(10)
OpenStudy (anonymous):
2000*
OpenStudy (anonymous):
and 15* woops. so 2000e^(.29)(15)
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