A website is offering a savings account that pays 33% compounded continuously. How much interest would a deposit of $3,000 earn over 15 years? (Round your answer to the nearest cent.)
I used f(t)=Pe^rt and got 1000e^-0.045t
I don't know what I did wrong.
Thank you.
2 answers
I meant to say 3000e^ 0.33(15) and got $62593.57
don' know how you got that final answer.
3000 e^(.33x15)
= 3000 e^4.95
= 3000(141.1749639)
= $423524.89
Quickly, get me that webpage!!!!
3000 e^(.33x15)
= 3000 e^4.95
= 3000(141.1749639)
= $423524.89
Quickly, get me that webpage!!!!