Question

Find the compound amount if the
compounding is (a) continuous:

$1000 at 9% for 20 years

Answer 1

\[A=Pe ^{rt}\]

Answer 2

where P (principle amount) is the $1000, r (rate) is the 9% or 0.09 and t is time or 20 years

Answer 3

so if you type into ur calculator \[1000e ^{0.09\times20}\] u will get your answer

Answer 4

btw e is a constant---it should be a button on ur calculator for that....if not i think you could use the approximation of 2.71828183 as e

Answer 5

thanks for your help but they are giving me an answer of 6050