anonymous
  • anonymous
You deposit $3000 in an account that pays 5% annual interest compounded continuously. What is the balance after 2 years?
Mathematics
jamiebookeater
  • jamiebookeater
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anonymous
  • anonymous
Y=3×2 with exponent ×-3
anonymous
  • anonymous
Y=(3\4)exponent ×
anonymous
  • anonymous
Y=(3\4)exponent ×

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Miracrown
  • Miracrown
you are absolutely right, but then why did you use 3/4?
Miracrown
  • Miracrown
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Miracrown
  • Miracrown
so what is going to be the principal in this case?
Miracrown
  • Miracrown
P = 3000 r = 5% t = 2 Therefore ... \[A = 3000e^{0.05\times2} \]
Miracrown
  • Miracrown
Solve for a

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