Question

Use the continuous compound interest formula to find the indicated value.


A=$17,177; P=$11,300; t=72 moths; r=?

r=____%
(Round to three decimal places as needed.)

Answer 1

What is A as a value and P as a value? Are they ending amount and starting amount?

Answer 2

idk that's all it says.

Answer 3

Do you have a graphing calculater?

Answer 4

no i have a scientific calculator.

Answer 5

\[r=\sqrt[n]{\frac{ A }{ P }}-1\]

Answer 6

since \[A=P(1+r)^n\]

Answer 7

i thought i had to use \[A=Pe ^{rt}\]

Answer 8

see I learned this in a different way than using A and P
I learned it in a Recursive formula

Answer 9

Uo=11300
Un=X Un-1
and then solve for x