## pimpdaddyroman 3 years ago 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

1. slaaibak

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

2. slaaibak

e is the number e on your calculator.

3. dpaInc

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

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

5. dpaInc

stick it in your calculator and what do you get?

I can't even find it on my calculator

7. dpaInc

what calculator do you have?

TI-83

9. dpaInc

see th LN button? it's 2nd fn

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

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

12. dpaInc

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

13. dpaInc

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

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

I got it now thank you!!

16. dpaInc

552.59

17. dpaInc

do you know what that number represents?