Determine the amount of money you would have if you invested $15,000 dollars for 11 years at 3% annual interest compounded continuously.

instead of giving the answer type in the formula for the equation

The amount after 3 years of investment is $20763  .

Step-by-step explanation:

Given as :

The principal invested = p =$15,000

The rate of interest = r = 3% compounded annually

The time period = t = 11 years

Let The Amount after 3 years = $ A

From Compounded method

Amount = Principal ×

Or, A = p ×

Or, A = $15,000 ×

Or, A = $15,000 ×

Or, A = $15,000 × 1.3842

Or, A = $20763

So, Amount = A = $20763

Hence The amount after 3 years of investment is $20763  . Answer

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