pimpdaddyroman
Use formula A=Pe^rt
$500 for 10 years at 10%
Please help, I don't know what the e part of the equation is



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slaaibak
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A=accumulated amount
P=initial amount
r = continuous force of interest
t = time

slaaibak
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e is the number e on your calculator.

dpaInc
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e is just a number... about 2.71828...

pimpdaddyroman
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ooh....okay thanks, can someone solve this so I can make sure I get the correct answer?

dpaInc
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stick it in your calculator and what do you get?

pimpdaddyroman
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I can't even find it on my calculator

dpaInc
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what calculator do you have?

pimpdaddyroman
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TI83

dpaInc
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see th LN button? it's 2nd fn

pimpdaddyroman
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and does the equation look like this ? 500e^10*10?

pimpdaddyroman
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yeah, I do the button, it does e( ) what do I put inside? I put 500 inside and it said overflow

dpaInc
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put in .01 * 10
that is (rate)*(time in years)

dpaInc
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put the 500 before the e... like in your formula

pimpdaddyroman
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so 500e^( what do I do next how do I type it in my calculator

pimpdaddyroman
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I got it now thank you!!

dpaInc
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552.59

dpaInc
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do you know what that number represents?