Question
Please help:
A continuously compounded account starts with $2500 in principal. The annual interest rate is 11.3%. What is the balance after 15 years?
pert:
Value= Principal*e<sup>rt</sup>
= 2500* e<sup>0.11(15)</sup>
= 2500 * e<sup>1.65</sup>
wow.
thanks
A continuously compounded account starts with $2500 in principal. The annual interest rate is 11.3%. What is the balance after 15 years?
pert:
Value= Principal*e<sup>rt</sup>
= 2500* e<sup>0.11(15)</sup>
= 2500 * e<sup>1.65</sup>
wow.
thanks