anonymous
  • anonymous
How much money invested at 5% compounded continuously for 3 years will yield $820? Answer a. $952.70 b. $818.84 c. $780.01 d. $705.78
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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jamiebookeater
  • jamiebookeater
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anonymous
  • anonymous
solve for P: |dw:1332635847606:dw|
anonymous
  • anonymous
Can read that how do i solve
anonymous
  • anonymous
the right side is P*e^[(0.05)*(3)]

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anonymous
  • anonymous
this is the continuous compounding formula...
anonymous
  • anonymous
Not getting the answer
phi
  • phi
type 820/exp(3/20)= in the google search window
phi
  • phi
0.05*3 = 3/20 exp means e
phi
  • phi
You could also type in 820*exp(-3/20)= using a negative exponent, and multiplying
anonymous
  • anonymous
y=a*b^x a=820 b=1.05 x=3 y=820*1.05^3 y=949.2525
phi
  • phi
True for non compounded interest. But here they want continuously compounded interest. So we use e (2.71828...) If you want more info, Khan's videos are very good http://www.khanacademy.org/science/finance/core-finance/v/introduction-to-compound-interest-and-e
anonymous
  • anonymous
so its c
mama2dylan
  • mama2dylan
d

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