Answer:
After 4 years she will have $1760.67 in her account.
Step-by-step explanation:
Jasmine invested initial amount = $1500
Rate of interest = 4% compounded continuously
Duration of investment = 4 years
Formula to calculate the final amount when compounded continuously is,
[tex]P(t)=Ie^{rt}[/tex]
where I = Initial amount
r = rate of interest
t = duration of investment
P(t) = Final amount
[tex]P(4)=1500e^{0.04(4)}[/tex]
= [tex]1500e^{0.16}[/tex]
= 1760.266
≈ $1760.27
Therefore, after 4 years she will have $1760.67 in her account.
