Question

write an algebraic expression for the interest earned on a $15000 deposit for a t months at 1.75% interest, compunded continuously

Answer 1

Y=15000 e^(0.0175×t/12)

Y future value

15000 present value

E constant

1.75/100=0.0175 Interest rate

T time

12 number of months in a year

Hope it helps!