Steph L. answered 03/18/21
UCLA Grad and Experienced tutor and teacher with proven results!
Normally, we would use formula: A= P (1 + r/n) nt where A is the Amount, P is the Initial Investment, R is the rate, N is the units of time, and T is the amount of time.
However, this question is asking about a rate that is "compounded continuously." Likely, you should use formula: A = Pert, where A is the Amount, P is the initial investment, R is the rate, and T is the amount of time.
Remember that E = 2.71828
A= 50,000e(.1415 *10)
A = $ 205,824.32
Just FYI, CD investments are not typically 14.15%. This is an extremely high interest rate, especially when compounded continuously.