Jasmine invests $2,658 in a retirement account with a fixed annual interest rate of 9% compounded continuously. what will the account balance be after 15 years?

1) with this exercise you have the following  data , initial capital C =  $ 2,658 , rate of interest i= 9 % , time in years of  n = 15

2) with the formula M = C(1+i) ^n, can obtain  the account balance  M, at 15 years

M = 2,658(1+0.09)^15 = $9,681

The amount  balance be after 15 years is $10253.03.        

Step-by-step explanation:

Given : Jasmine invests $2,658 in a retirement account with a fixed annual interest rate of 9% compounded continuously.

To find : What will the account balance be after 15 years?

Solution :

The formula of compounded continuously is

Where, A is the amount

P is the principal P=$2658

r is the rate of interest r=9%=0.09

t is the time t=15 years

Substitute all the values in the formula,

Therefore, The amount  balance be after 15 years is $10253.03.

line or a linear equation graph

step-by-step explanation: