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anonymous
 one year ago
WILL FAN AND MEDAL! :)
All I need to know is how to set up the equation Do I change the percentage to 0.035, 0.35 or leave it as 3.5? And do I add 1?
Aidan has $7565 in his checking account. He invests it in an account that earns 3.5% interest compounded continuously. What is the total amount of his investment after 3 years?
anonymous
 one year ago
WILL FAN AND MEDAL! :) All I need to know is how to set up the equation Do I change the percentage to 0.035, 0.35 or leave it as 3.5? And do I add 1? Aidan has $7565 in his checking account. He invests it in an account that earns 3.5% interest compounded continuously. What is the total amount of his investment after 3 years?

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yb1996
 one year ago
Best ResponseYou've already chosen the best response.1Each time you use a percent in an equation, you should convert it into a decimal. So 0.035 will be correct.

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0so it will turn into A=7565(1+0.035)^3?

yb1996
 one year ago
Best ResponseYou've already chosen the best response.1The equation you will use will be P=e^(rt)

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0how do you set that up?

yb1996
 one year ago
Best ResponseYou've already chosen the best response.1This website has a nice explanation on how to use that equation. Read it and if you have any questions then let me know: http://www.mathwarehouse.com/compoundinterest/continuouslycompoundedinterest.php

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0so A=7565e^(0.035)(3)

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0what does 3 represent?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0so right now i have 7565e^0.105

yb1996
 one year ago
Best ResponseYou've already chosen the best response.1e is a constant. It's approximately 2.7. But you should be able to find it on your calculator.

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0how do i find that using a calculator

yb1996
 one year ago
Best ResponseYou've already chosen the best response.1do you have a scientific calculator with you?

yb1996
 one year ago
Best ResponseYou've already chosen the best response.1Alright, I was going to ask you which calculator you had since all calculators have different ways of inputting e, but that makes my life a lot easier...lol

yb1996
 one year ago
Best ResponseYou've already chosen the best response.1you should close the question so that it goes off the list
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