Question

If you were to place $2,500 in a savings account that pays 3% interestcompounded continuously, how much money will you have after 5 years?Assume you make no other deposits or withdrawals.A. $2,515.00B. $2,904.59C. $431,078.73D. $2,898.19SUBMIT

Answer 1

Ok, here we have the following:

`Total=2500e^(0.03\cdot5)\approx2904.59`

So, finally we get that the correct option is B. $2,904.59