Answer:
$776.59
Step-by-step explanation:
For this question, you must use the formula for being compounded continuously. A=Pe^r*t. A stands for your total balance, the part you are trying to find. P stands for the initial amount. E is a constant. R is the rate of interest. And t is the number of years taken. So, to fill in the formula: P is 550, t is 15, and R would be 0.023. For R, remember not to just take the percentage, you must divide the percent of interest by 100, so 2.3 by 100 to get to 0.023. The formula should know be A= (550) e^ (0.023)(15). plug that into your calculator, and you should get $776.59.
hope this helps!