Question

If you put $1,500 in a savings account that pays 4% interest compounded continuously, how much money will you have in your account in 5 years? Assume you make no additional deposits or withdrawals.

Answer 1

1500 x.04 = 60
60 x 5= 300
Annual Interest= 300

Answer 2

is the compounded continuously formula
where P is the principal amount
r=rate and t=time

Answer 3

so...