Maddy1251
  • Maddy1251
If you deposit $750 in an account that pays 8% annual interest compounded continuously, what will be the balance after five years? the formula is A=Pe^rt how do you solve?
Mathematics
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SOLVED
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katieb
  • katieb
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anonymous
  • anonymous
\[A=750e^{.08\times 5}\] and a calculator
anonymous
  • anonymous
to make it easier to input compute \[.08\times 5=.4\]first
anonymous
  • anonymous
http://www.wolframalpha.com/input/?i=750e^%28.4%29

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anonymous
  • anonymous
btw no one compounds interest continuously continuous growth and decay are found in nature, not banks
anonymous
  • anonymous
clear or no?
Maddy1251
  • Maddy1251
@satellite73 you can tell my teacher that. xDD But yeah, I think you have to use logs to get it in the simplified form, no?
anonymous
  • anonymous
oh no
anonymous
  • anonymous
it is a straight forward input you need logs to solve for the variable in the exponent like if it said "when will the amount be $1500 ?" for example
anonymous
  • anonymous
it is not "simplified form" whatever that means, it is a dollar amount "what will be the balance after five years?"
anonymous
  • anonymous
now i have a question
Maddy1251
  • Maddy1251
Yes?
anonymous
  • anonymous
what the monkey is a "Jr. Turkey Committee"?
Maddy1251
  • Maddy1251
Haha I show in 4-H, and in 4-H we show turkeys, and there is a committee that helps kids with the turkey project, I happen to be one of the "youth" that helps project members @satellite73
anonymous
  • anonymous
bet you were busy over thanksgiving!
Maddy1251
  • Maddy1251
@satellite73 Hahah well of course :D

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