Question 1002417
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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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        Calculations in the post by @lwsshak3 are incorrect (irrelevant) and produce wrong answer.

        I came to bring a correct solution.



Compound interest formula for continuous compounding: A = {{{P*e^(rt)}}}, 


where P is an initial investment, r is an interest rate, A is the future value after t years.


A = {{{7500*e^(.0775*16)}}} = {{{7500*2.71828^(0.0775*16)}}} = $25,917.08 rounded to the closest cent.   &nbsp;&nbsp;&nbsp;&nbsp;<U>ANSWER</U>


Solved correctly.