2. In the formula A(1) = Pe" for continuously compound inter- est, the letters P, r, and t stand for and respectively, and A(t) stands for $100 is invested at an interest rate of 6% compounded continu- -. So if ously, then the amount after 2 years is.

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 8RE: Suppose an investment account is opened with aninitial deposit of 10,500 earning 6.25...
icon
Related questions
Question
2. In the formula A(1) = Pe" for continuously compound inter-
est, the letters P, r, and t stand for
and
respectively, and A(t) stands for
$100 is invested at an interest rate of 6% compounded continu-
-. So if
ously, then the amount after 2 years is.
Transcribed Image Text:2. In the formula A(1) = Pe" for continuously compound inter- est, the letters P, r, and t stand for and respectively, and A(t) stands for $100 is invested at an interest rate of 6% compounded continu- -. So if ously, then the amount after 2 years is.
Expert Solution
steps

Step by step

Solved in 3 steps with 1 images

Blurred answer