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1 February, 21:20

If you were to place $2,500 in a savings account that pays 3% interest compounded continuously, how much money will you have after 5 years? Assume you make no other deposits or withdrawals.

A. $2,904.59

B. $2,898.19

C. $431,078.73

D. $2,515.00

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  1. 1 February, 21:37
    0
    Use the formula A (amount) = Pe^rt

    A = $2,500e^ (0.03 x 5)
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