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anonymous

  • 5 years ago

continuously compounded interest, A=Pe^rt, where p is the principal, r is the annual interest rate, and t is the time in years.. If sarita deposits $1000 in an account paying 3.4% annual interest compounded continuously, what is the balance in the account after 5 years?

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  1. anonymous
    • 5 years ago
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    Plug and chug. P is $1000, r is the rate so .034, and t is 5. A is what you are looking for.

  2. anonymous
    • 5 years ago
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    So just plug that in.. equals to be $5172.92, thank you.

  3. anonymous
    • 5 years ago
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    Yes just plug it in, but that number is wrong.

  4. anonymous
    • 5 years ago
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    \[A=1000e^.17\] where the .17 is from .034 x 5

  5. anonymous
    • 5 years ago
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    1185.30?

  6. anonymous
    • 5 years ago
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    Yes :)

  7. anonymous
    • 5 years ago
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    thank you dear (:

  8. anonymous
    • 5 years ago
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    No problem.

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