Question

An investment of $25,000 earns 2.65% annual interest and is compounded continuously. If no funds are added or removed from this account, what is the future value of the investment after 5 years?

Answer 1

End Balance $28,492.78

Starting Amount $25,000.00

Total Contributions $0.00

Total Interest $3,492.78

Explanation:

A=P(1+r/n)nt