What will be the value of an account be after 8 years if $100 is invested at 6.0% interest compound continuously....
Please help!!
Thanks! :)

Question

What will be the value of an account be after 8 years if $100 is invested at 6.0% interest compound continuously....
Please help!! 
Thanks! :)

anonymous · Answer

FV = 
limit P(1 + 1/m)Ymr
m>oo

anonymous · Answer

@mathstudent55 is this will be the same formula?

mathstudent55 · Answer

Why don't you follow exactly what was done for the previous similar problem. Try it, and post here your steps, and I'll check it.

anonymous · Answer

A = P*e^(Yr)
where A = amount
P = prinicipal
Y = number of years
r = interest rat expressed as a decima; fraction
e = known constant

plugging in,

A = 100*e^(8*0.06) = 161.61 $

ans: $ 161.61

mathstudent55 · Answer

Wait, it's a similar problem in that it uses the same formula, but you are given different info and are looking for different info. Start with the same formula
A = pe^(rt)

mathstudent55 · Answer

p = 100
t = 8
r = 6% = 0.06
you are looking for A

anonymous · Answer

answer is  $ 161.61, I am sure

anonymous · Answer

@blast234 yes it is, and the details are clear, Thanks!!

anonymous · Answer

ur welcome :D

anonymous · Answer

@mathstudent55 Thanks also for your help... :*

anonymous · Answer

I have more don't worry guys!!! lol!

anonymous · Answer

lol