Question

Determine how much money will be in a savings account if the initial deposit was $750 and the interest rate is 2.465% compounded continuously for 20 years. (Round your answer to the nearest cent.)

Answer 1

Here is the interest compounded continuously formula: p=p of e^rt

Answer 2

seems straight forward but idk how to really do this

Answer 3

Hold on a sec

Answer 4

ok

Answer 5

u can use that program u used last time to help

Answer 6

\[A = Pe^{rt}\]

A = Balance after t years
r = Annual Interest Rate

Answer 7

P = Amount of Deposit

Answer 8

yes

Answer 9

\[A = (750)e^{(.02465)(20)}\]

Answer 10

A = 1227.92

Answer 11

Any questions?

Answer 12

wheres the e on my calc

Answer 13

What calculator are you using?

Answer 14

TI 84

Answer 15

I have TI-Nspire. You should get one of those. $50

Answer 16

You have the e function on TI-84

Answer 17

It's on there. You just have to find it

Answer 18

ok i found it

Answer 19

i have another similar question that says 15 years and 8 months... how would i punch that in? 15.8?

Answer 20

8/12 = 2/3 = .66667

Answer 21

so 15.66667?

Answer 22

or wait no

Answer 23

just .66667

Answer 24

15.66667

Answer 25

ok

Answer 26

actually, it would be best if you use the fraction 47/3

Answer 27

to be more exact

Answer 28

ill try the decimal first and see

Answer 29

it worked with the decimal just fine

Answer 30

At an interest rate of 4% compounded annually, how long will it take to double the following investments? (Round your answer to the nearest year.)
(a) $100
_____ years

Answer 31

need help with this too

Answer 32

Mario, you'll have to figure out some of these on your own. I'm going to be helping someone with their math

Answer 33

...ok :(