Answered

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Find the future value of $15,000 compounded continuously at 6% for 8 years.

Sagot :

The future value with continuous compounding is $127,420.39.

What is the future value?

The formula for calculating future value when there is continuous compounding is : A x e^r x N

Where:

  • A= amount
  • e = 2.7182818
  • N = number of years
  • r = interest rate

15,000 x (e^0.06) x 8 = $127,420.39

To learn more about continuous compounding, please check: https://brainly.com/question/26476328

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