Calculate the balance of your account after 15 years. Round your answer to the nearest hundredth.

$13,054.13

Step-by-step explanation:

You are going to want to use the continuous compound interest formula, which is shown below.

A = total

P = principal amount

r = interest rate (decimal)

t = time (years)

First, lets change 7.25% into a decimal:

7.25% -> -> 0.0725

Now, plug the values into the equation:

Your balance will be $13,054.13

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