2. The amount A in a savings account compounded n times per year for t years at interest rate of r and with an initial deposit P is A = P (1+)". nt А — Р n If we let n o for fixed P, r,t we obtain the formula for "continuous compounding Find this formula.
2. The amount A in a savings account compounded n times per year for t years at interest rate of r and with an initial deposit P is A = P (1+)". nt А — Р n If we let n o for fixed P, r,t we obtain the formula for "continuous compounding Find this formula.
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 60SE: The formula for the amount A in an investmentaccount with a nominal interest rate r at any timet is...
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