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Exponential and logarithmic functions
7.
Calculate the amount of interest earned on $100 in one year at 6% compounded countinuosly. Then determine the exact interest rate in terms of e required to earn the same amount of interest when $100 is deposited in an account where the interest is compounded
a. yearly
b. semiannually
c. monthly
d. quarterly
 one year ago
 one year ago
Exponential and logarithmic functions 7. Calculate the amount of interest earned on $100 in one year at 6% compounded countinuosly. Then determine the exact interest rate in terms of e required to earn the same amount of interest when $100 is deposited in an account where the interest is compounded a. yearly b. semiannually c. monthly d. quarterly
 one year ago
 one year ago

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inkyvoydBest ResponseYou've already chosen the best response.0
formulas given to me: interest compounded continuously:A=Pe^(rt) A=P(1+r/n)^(nt) what I need help with: I'm supposed to express these solutions as a form of e
 one year ago

inkyvoydBest ResponseYou've already chosen the best response.0
What I have:I put in the numbers for b, and got e^0.06=(1+r)^2 0=(1+0.5r)^2e^0.06 0=(1+0.5r+e^0.03)(1+0.5re^0.03) 1+0.5re^0.03=0 r=2e^0.032 In other words, I used the difference of squares what everyone else got in my virtual discussion board: 0.0224e how did they get this answer and what am i doing wrong?
 one year ago

inkyvoydBest ResponseYou've already chosen the best response.0
Sigh. Can't even do the beginng of BC calc rite.
 one year ago

completeidiotBest ResponseYou've already chosen the best response.0
you do realize e is just a number right? e=2.71828...
 one year ago

inkyvoydBest ResponseYou've already chosen the best response.0
I know e is a number. But I'm supposed to give this answer in terms of e, just like giving an answer in terms of pi.
 one year ago

completeidiotBest ResponseYou've already chosen the best response.0
(2e^0.032) /e = .224
 one year ago

completeidiotBest ResponseYou've already chosen the best response.0
so r=(2e^0.032)=.224e
 one year ago

inkyvoydBest ResponseYou've already chosen the best response.0
yaeh but there isn't any point in using e if you are going to approximate in the first place.
 one year ago
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