Question

If you invest $2500 in an account paying 15.5% compounded continuously, how much money will be in the account at the end of three years?

Answer 1

we can use the formula

$C=c\times(1+t)^n$

Where C is the total capital, c the initial capital, t the interest rate and n the years

we just replace

$C=2500\times(1+0.155)^3$$C=3851.99\approx3852$

at the end of 3 years will be $3852