Suppose you invest $500 at an annual interest rate of 8.2% compounded continuously. the future value is $1,710.61 Option C
Generally, The worth of an asset on a certain date in the future is known as its future value.
It is the present value multiplied by the accumulation function, and it is used to calculate the nominal future sum of money that a given sum of money will be "worth" at a specific time in the future assuming a certain interest rate, or more generally, rate of return. This value is used to measure the "worth" of money in the future.
A=PV(1+r)^{n}
Therefore
A=500 e^{0.082 *15}
A =500 e^{1.23}
A= 1,710.61
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CQ
Suppose you invest $500 at an annual interest rate of 8.2% compounded continuously. How much will you have in the account after 15 years?
$1,671.74
$17,028.75
$1,710.61
$8,140.92
