Click on the time that passed from start to end 38 minutes
22 minutes
32 minutes
28 minutes

32 mins\

beacuase taht was the amont of time that passed

Principal amount = P = $1500
Time in years = t =10
For annual compounding, interest rate = r = 3% = 0.03
Amount accumulated = A 

Formula for Annual(Yearly) compounding is:



Using the values, we get:



Interest rate for continuous compounding = r = 2% = 0.02

Formula for continuous compounding is:



Using the values, we get:



This means amount accumulated by yearly compounding after 10 years will be $ 2015.87 and amount accumulated by continuous compounding will be $ 1832.40. Therefore the amount with yearly compounding will have more amount by the end of 10th year. The difference in the two amounts will be $183.47. So the yearly compounding will have saved $183.47 more than continuous compounding.