SOLUTION: How much would $100 invested at 8% interest compounded continuously be worth after 15 years? Round your answer to the nearest cent. Do not include units in your answer.

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Question 204844: How much would $100 invested at 8% interest compounded continuously be worth after 15 years? Round your answer to the nearest cent. Do not include units in your answer.

Answer by Alan3354(30993) About Me  (Show Source):
You can put this solution on YOUR website!
How much would $100 invested at 8% interest compounded continuously be worth after 15 years? Round your answer to the nearest cent. Do not include units in your answer.
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For continuous compounding, use e^rt
FV = $100*(e^rt)
FV = $100*e^(0.08*15)
FV = $100*e^1.2
FV = $100*3.320117
FV = $332.01