Question

Aryanna invests $30,000 today into an investment that earns 5% annually, but interest is compounded continuously. What is the future value of this investment 15 years from today? Select one:

a. $63,500

b. $72,300

c. $81,100

d. $67,500

e. $62,400

Answer 1

Future value :Amount *E^rt

              30000 * e^.05*15

              30000 * e ^.75

              30000*2.117

                $ 63510      [approx to 63500]

correct option is "A"