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.)

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.)

anonymous · Answer

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

anonymous · Answer

idk that's all it says.

anonymous · Answer

Do you have a graphing calculater?

anonymous · Answer

no i have a scientific calculator.

anonymous · Answer

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

anonymous · Answer

since $$A=P(1+r)^n$$

anonymous · Answer

i thought i had to use $$A=Pe ^{rt}$$

anonymous · Answer

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

anonymous · Answer

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