Question

Use formula A=Pe^rt
$500 for 10 years at 10%
Please help, I don't know what the e part of the equation is

Answer 1

A=accumulated amount
P=initial amount
r = continuous force of interest
t = time

Answer 2

e is the number e on your calculator.

Answer 3

e is just a number... about 2.71828...

Answer 4

ooh....okay thanks, can someone solve this so I can make sure I get the correct answer?

Answer 5

stick it in your calculator and what do you get?

Answer 6

I can't even find it on my calculator

Answer 7

what calculator do you have?

Answer 8

TI-83

Answer 9

see th LN button? it's 2nd fn

Answer 10

and does the equation look like this ? 500e^10*10?

Answer 11

yeah, I do the button, it does e( ) what do I put inside? I put 500 inside and it said overflow

Answer 12

put in .01 * 10
that is (rate)*(time in years)

Answer 13

put the 500 before the e... like in your formula

Answer 14

so 500e^( what do I do next how do I type it in my calculator

Answer 15

I got it now thank you!!

Answer 16

552.59

Answer 17

do you know what that number represents?