Question

Situation:
You invest $4,000 in an account that
pays an interest rate of 5.5%,
compounded continuously.
Calculate the balance of your account after 15
years. Round your answer to the nearest
hundredth.

Answer 1

Answer:

${ \bf{A=(P + \frac{r}{100} ) {}^{n} }} \\ { \tt{ = (4000 + \frac{5.5}{100} ) {}^{15} }} \\ \\ { \tt{ = \: 1.074 \times {10}^{54} \: dollars}}$