The amount of money you have is $ 20864.521
Given that you invested $15,000 dollars for 11 years at 3% annual interest compounded continuously.
To find: total amount of money
The compound interest formula for compounded continously is given as:
[tex]A = p e^{rt}[/tex]
Where "p" is the principal
"r" is the rate of interest
"t" is the number of years
Here in this problem, p = 15000
t = 11 years
[tex]r = 3 \% = \frac{3}{100} = 0.03[/tex]
Substituting the values in formula we get,
[tex]A = 15000e^{0.03 \times 11}\\\\A = 15000e^{0.33}\\\\A = 15000 \times 1.390968\\\\A = 20864.521[/tex]
Thus the amount of money you have is $ 20864.521
