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

answer: 7

step-by-step explanation:

the answer is:

the answer is:

to solve the problem, we need to remember the quotient of power property, it's defined by the following relation:

if we have a quotienf of powers that have the same base, we need to keep the same base and subtract the exponent of the denominator power to the exponent of the numerator power.

so, we are given the expression:

then, calculating we have:

hence, the answer is:

have a nice day!