How much would $100 invested at 8% interest compounded continuously be worth after 15 years?

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Seudónimo Seudónimo

19-08-2016
Mathematics

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How much would $100 invested at 8% interest compounded continuously be worth after 15 years?

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toporc toporc · Answer 1 · 2016-08-19T06:20:52+02:00

toporc toporc

19-08-2016

The correct formula to use for continuous compounding is:
[tex]A=Pe^{rt}[/tex]
where the exponential number e is the base of natural logarithms.
[tex]A=100\times e^{(0.08\times15)=332.01[/tex]
So the amount after 15 years is $332.01

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trishgault70707 trishgault70707 · Answer 2 · 2021-07-18T17:48:41+02:00

trishgault70707 trishgault70707

18-07-2021

Answer:

$332.01 is correct via a p e x

Step-by-step explanation:

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