SOLUTION: find the amount of interest earned on $2500 invested at a 6.4% interest rate compounded continuously for 3 years.

Question 606076: find the amount of interest earned on $2500 invested at a 6.4% interest rate compounded continuously for 3 years.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
find the amount of interest earned on $2500 invested at a 6.4% interest rate compounded continuously for 3 years.
------------------------
A(3) = 2500*e^(3*0.064)
A(3) = 3029.18
---
Interest = 3029.18 - 2500 = $500.18
======================================
Cheers,
Stan H.
RELATED QUESTIONS
Find the amount of money accumulated if you invested $25,000 at 4.3% interest for 8 years (answered by Alan3354)

If $500 is invested at a rate of 4% for 3 years, find the simple interest earned and the... (answered by math_helper)

Suppose that $2500 is invested in an account that pays interest compounded... (answered by Boreal,ikleyn)

what is the interest earned on $15,000 for four years at an interest rate of 3.5%... (answered by robertb)

Susan invests R45 000 at a simple interest rate of 6% per year. Two years later, she adds (answered by )

So if $300 is invested at an interest rate of 6% compounded continuously, then the... (answered by solver91311)

please help, I don't know how to do this: find the value of $2500 invested at 4.5% annual (answered by rfer)

So if $100 is invested at an interest rate of 8% compounded continuously, then the amount (answered by rfer)

what will be the balance in an account and the interest earned on $5000 invested at 3 and (answered by lwsshak3)