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OpenStudy (anonymous):
Suppose $500 is deposited into an account paying interest at a rate of 7%, continuously compounded. Find a formula for the value of the account at time t. What is the value of the account after 3 years?
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OpenStudy (anonymous):
Pe^Yr
OpenStudy (anonymous):
where P is initial amount or the Principal amount. r = rate. y = number of years e is euler's number which is the natural number.
OpenStudy (anonymous):
So what would the equation be ? P(t) = 500e^3 ?
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