Face Value

future value?

Find the future value of a 15 yr cd with an intitial investment of %3500 @ 5.7% compounded continuously

Public Comments

1. since it's continuously, the formula will be A=Pe^(rt) otherwise it would be A=P(1+r/n)^(nt) A=total amount P=principal (amount invested) e=the base of natural logs, e=2.71828... r=rate of interest(as a decimal) t=time (usually # of years) im guessing the %3500, is actually a money amount so, A=3500e^(.057*15) A=$8229.81 good luck and hope this helps!
2. M = P( 1 + i )^n M is the final amount including the principal. P is the principal amount. i is the rate of interest per year. n is the number of years invested. M=$3500(1+0.057)^(15) M=$8038.83