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.)

Question

anonymous · Answer

If I'm not mistaken, the equation is P = e^(rt).

anonymous · Answer

Where P is the Principle, r is the rate of interest and t is the period of time

anonymous · Answer

is that what you've been using?

anonymous · Answer

yes i have been using that formula

anonymous · Answer

So what have you tried?  It would seem to me that just evaluating the equation at the given values then subtracting the original principle should work.