Answer:
$19,747.96
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]
A = total
P = principal amount
r = interest rate (decimal)
t = time (years)
First, lets change 5.5% into a decimal:
5.5% -> [tex]\frac{5.5}{100}[/tex] -> 0.055
Next, plug in the values into the equation:
[tex]A=15,000e^{0.055(5)}[/tex]
[tex]A=19,747.96[/tex]
After 5 years, you will have $19,747.96
