SOLUTION: If Hannah places $ 7500 into an account earning 7.75% interest compounded continuously, how much will she have after 16 years?

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Question 1002417: If Hannah places $ 7500 into an account earning 7.75% interest compounded continuously, how much will she have after 16 years?
Answer by lwsshak3(11628) About Me  (Show Source):
You can put this solution on YOUR website!
If Hannah places $ 7500 into an account earning 7.75% interest compounded continuously, how much will she have after 16 years?
Compound interest formula for continuous compounding: A=Pe^rt, P= initial investment, r=interest rate, A=amt after t-years
A=7500.e^(.0775*6)=7500*=$11,940.11(rounded)