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How much would $100 invested at 8% interest compounded continuously be worth after 15 years?

How much would $100 invested at 8% interest compounded continuously be worth after 15 years?
asked 50.2k views
3 votes
How much would $100 invested at 8% interest compounded continuously be worth after 15 years?

asked
User JamesMatson
by
7.7k points

2 Answers

5 votes

Answer:

$332.01 is correct via a p e x

Explanation:

answered
User Djentleman
by
7.8k points
3 votes
The correct formula to use for continuous compounding is:

A=Pe^(rt)
where the exponential number e is the base of natural logarithms.

A=100* e^{(0.08*15)=332.01
So the amount after 15 years is $332.01
answered
User David Morrow
by
8.9k points
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