Question

Can someone please help with this pre cal problem!

Complete the table to determine the balance A for P dollars invested at rate R for T years and compounded N times per year.

Equation: P=$1000, r=6%, t=10 years

Table: Row 1: n|1|2|4|12|365|Continuous|
Row 2: A| | | | | | |

Answer 1

@hartnn

Answer 2

Would this be an exponential function?.

Answer 3

i believe so!

Answer 4

just checked and yes it is, its a question in the lesson Exponential and Logarithmic functions :)

Answer 5

f(x) = 1000(.06)x
I believe this is your equation sorry i was afk...

Answer 6

@AravindG @shrutipande9 @whpalmer4

Answer 7

The formula is \[A = P(1+r/N)^{tN}\]with \(r\) expressed as a decimal. For your values, that becomes \[A = 1000(1+0.06/N)^{tN}\]

For the final case of continuous compounding, the formula is
\[A = Pe^{rt}\] again with \(r\) expressed as a decimal