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.
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
