SOLUTION: How much money would you have if $1500 is invested for 10 years at 2.4%, continuously compounded? Work I have tried Equation I used was A=Pe^rt A=1500e^10(.24) A=1500e^24

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Question 1072335: How much money would you have if $1500 is invested for 10 years at 2.4%, continuously compounded?
Work I have tried
Equation I used was A=Pe^rt
A=1500e^10(.24)
A=1500e^24
Found 2 solutions by josgarithmetic, jorel1380:
Answer by josgarithmetic(39616) About Me  (Show Source):
You can put this solution on YOUR website!
r, as a decimal

A=Pe%5E%28rt%29

A=1500%2Ae%5E%280.024%2A10%29
A=1500%2Ae%5E%280.24%29

Answer by jorel1380(3719) About Me  (Show Source):
You can put this solution on YOUR website!
Using the equation A=p x e^rt, we get:
A=1500 x e^10(.024)=1500 x e^.24
Using a calculator to get the exponential value of e, we get A=1906.87. ☺☺☺☺