If you put 1500 into a bank account that pays 4% interest compounded continuously how much money would you have in 5 years?

Question

jozelynw · Answer

1500 times 0.04 times 5 is what? The answer

cutiecomittee123 · Answer

Really? I thought it took an equation

jozelynw · Answer

nevermind wrong type of math

cutiecomittee123 · Answer

Yeah I was wondering hah that didnt seem right, thanks anyways

jozelynw · Answer

what type of math is this

cutiecomittee123 · Answer

Pre calculus. We are reviewing and learning about natural logarithmic equations

jozelynw · Answer

ohhh you are soo smart

jozelynw · Answer

I'm only in the 8th grade algebra

jozelynw · Answer

Pre calculus seems so hard

cutiecomittee123 · Answer

I think the equation is P=Ce^rt
Then I plugged it in
1500 taking place of C
and 0.04 in place of r
Then 5 In place of t 
so I got the equation P=1500e^0.04(5)

jozelynw · Answer

hmm well idk, but it seems like it could be correct.

cutiecomittee123 · Answer

No?

16shuston · Answer

okay so p=pe^rt

cutiecomittee123 · Answer

I just figured it out, I was right just plug in the numbers and then I used a calculator and got 1832.10 as the answer. I checked and it was right:)))

16shuston · Answer

okay