Oliver and Julia deposit $1,000.00 into a savings account which earns 14% interest compounded contin

Oliver and Julia deposit $1,000.00 into a savings account which earns 14% interest compounded continuously. They want to use the money in the account to go on a trip in 3 years. How much will they be able to spend? Use the formula A=Pert, where A is the balance (final amount), P is the principal (starting amount), e is the base of natural logarithms (≈2.71828), r is the interest rate expressed as a decimal, and t is the time in years. Round your answer to the nearest cent.

Using our continuous interest calculator, we get:
A = 1,521.96