Answer:
$3,644.24
Step-by-step explanation:
You are going to want to use the continuous compound interest formula, which is shown below.
[tex]A = Pe^{rt}[/tex]
P = principal amount
r = interest rate (decimal)
t = time (years)
First change 4% to its decimal form:
4% -> [tex]\frac{4}{100}[/tex] -> 0.04
Next, plug in the values into the equation:
[tex]A=2,000e^{0.04(15)}[/tex]
[tex]A=3,644.24[/tex]
After 15 years, you will have $3,644.24
