Answer:
A = $27100.5
Step-by-step explanation:
We are given;
Principal: P = $15,000
Interest rate: r = 4.55% = 0.0455
Time in years: t = 13 years
The formula for the value of the investment after t years of continuous compounding is;
A = P(e^(rt))
A = 15000(e^(0.0455 × 13))
A = 15000 × 1.8067
A = $27100.5
