You have $15,000 to invest for 5 years at 5.5% annual interest rate that is compounded continuously. how much money will you have at the end of 5 years?

$19,747.96

Step-by-step explanation:

You are going to want to use the continuous compound interest formula, which is shown below:

A = total

P = principal amount

r = interest rate (decimal)

t = time (years)

First, lets change 5.5% into a decimal:

5.5% -> -> 0.055

Next, plug in the values into the equation:

After 5 years, you will have $19,747.96

the answer is 0052

0 0 5 2

5 0 2 6 3 5

− 0

2 6

− 0

2 6 3

− 2 5 0

1 3 5

− 1 0 0

3 5