document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=878833>Question 878833</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose you invest $1500 at an annual interest rate of 5% compounded continuously. How much will you have in the account after 4 years? Round the solution to the nearest dollar. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #530363 by </B><A HREF=/tutors/aboutme.mpl?userid=lwsshak3><B>lwsshak3(11628)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=lwsshak3><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=530363\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Suppose you invest $1500 at an annual interest rate of 5% compounded continuously. How much will you have in the account after 4 years? Round the solution to the nearest dollar.<BR>\n" );
document.write( "***<BR>\n" );
document.write( "formula for continuous compounding: A=Pe^rt, P=initial investment, r=interest rate, t=number of years, A=amount after t-years<BR>\n" );
document.write( "for given problem:<BR>\n" );
document.write( "P=1500<BR>\n" );
document.write( "r=5%<BR>\n" );
document.write( "t=4<BR>\n" );
document.write( "A=1500*e^(.05*4)<BR>\n" );
document.write( "A=1500*e^(0.2)&#8776;$1832<BR>\n" );
document.write( "How much will you have in the account after 4 years? $1832 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );