Question

You deposit $2000 in an account earning 7% interest compounded continuously. How much will you have in
the account in 15 years?

Answer 1

Answer:

$3,715.30

Step-by-step explanation:

Total P+I (A): $3,715.30

Principal (P): $2,000

Compound (n): Continuously

Time (t in years): 15 years

By plugging this into an interest rate calculator, the amount settles to be approximently $3,715.30

Hope this helps!