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Anonymous Anonymous
  • 18-08-2016
  • Mathematics
Answered

How much would $100 invested at 8% interest compounded continuously be worth after 15 years?

Verified Answer :

toporc
toporc toporc
  • 19-08-2016

The correct formula to use for continuous compounding is:
\(A=Pe^{rt}\)
where the exponential number e is the base of natural logarithms.
\(A=100\times e^{(0.08\times15)=332.01\)
So the amount after 15 years is $332.01

Answer Link
trishgault70707
trishgault70707 trishgault70707
  • 18-07-2021

Answer:

$332.01 is correct via a p e x

Step-by-step explanation:

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