Question

Suppose that 5,000 dollars is deposited in a savings account paying 6% annual interest compounded continuously. How much interest will be earned in eight years? the back of the book has the answers and its 3080.37 in interest.. but i dont know how to get there, please show work!!!! thanks!!!!

Answer 1

@gorv

Answer 2

your the man help me out!!!!!!

Answer 3

i think i have to use the equation S=Pe^rt maybe?

Answer 4

just use formula of cmpound interst

Answer 5

what do i plug in though like what do i solve for

Answer 6

@mathhelp3242323

Answer 7

got that equation but what does the P stand for? like what do i plug in

Answer 8

and the n stand for?

Answer 9

@gorv

Answer 10

interest compounded in a year 2 time s 3 times

Answer 11

whatt lol

Answer 12

like interest is compounded quarterly

Answer 13

can u wrtie it out.. like how to set it up please

Answer 14

sorry sorry sorry sorry ur formula is right

Answer 15

as interest compounded continuously so ur formula will be used for that

Answer 16

no worries! lol

Answer 17

can solve further

Answer 18

@mathhelp3242323

Answer 19

what do i put into S=Pe^rt though.. like thats where im stuck

Answer 20

judt plug in p r and t

Answer 21

what do they stand for thoughh! lol like is p the 5000 r the .06 and t the 8?

Answer 22

i got like 8080.37 but in the back of the book ists.. 3080.37

Answer 23

@gorv

Answer 24

e =2.718

Answer 25

yeah lol that is total amount

Answer 26

for interest subtract the amount deposited
8080.37-5000=3080.37

Answer 27

hahahaha

Answer 28

holy pellet hahahaa

Answer 29

hahahaah

Answer 30

*pellet

Answer 31

*pellet

Answer 32

i keep typing pellet and it comes out as pellet... hahaha

Answer 33

s h i t

Answer 34

gotta go now buddy

Answer 35

Initally 200 milligrams of radioactie substance was present. After 6 hours, the mass had decreased by 3% . Construct an exponential model A(t)=A_0e^kt for the amount remainging of the decaying substance after t hours . Find the amount remaining after 24 hours?

Answer 36

alright man thanks for all the help!