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OpenStudy (anonymous):
Can someone teach me how to calculate exponential growth? :)
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OpenStudy (anonymous):
OpenStudy (valpey):
The equation in english is: The amount at time t (A(t)) is equal to the Principal (P) multiplied by Euler's number raised to the product of the continuously compounded interest rate times the amount of time.
OpenStudy (valpey):
For this problem the Principal is $500 and the (continuously compounded) interest rate is 9% (or 0.09). After 4 years you would have \[\Large$500 * e^{0.09*4}\]
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