Question

Another calc question, want help not answers guys!!!!!

Answer 1

for continuous compounding, use
\[\large P(t)=P_0e^{rt}\]

Answer 2

same kind of problem?

Answer 3

\(P_0\) is what you start with, the "principle" which in this case is \(3000\)

Answer 4

sort of but not exactly because you are told the rate is \(6\%=.06\)

Answer 5

use the formula above
put \(P_0=3000,r=.06,t=20\) and a calculator to get the answer

Answer 6

ok hold on

Answer 7

this problem is very artificial, because no one compounds interest continuously
monthly is more the norm, and the formula is different
continuous growth is for stuff that happens in nature

Answer 8

be careful when you put it in the calculator, it is easy to make a mistake
use parentheses judiciously

Answer 9

l\[P(t)=Poe^(rt)--->(3,000)e^(.06*20)=9960.35\]

Answer 10

?

Answer 11

yes

Answer 12

well its an answer choice so... awsome , great! thnxs, can u help me with the second one plz?

Answer 13

http://www.wolframalpha.com/input/?i=3000e^%2820*.06%29

Answer 14

sure

Answer 15

#7

Answer 16

it is the same as the first one, except that you know what you have at the end, not at the beginning

Answer 17

so do u work backwards?

Answer 18

the ending balance is suppose to be
\[20,000\] but the equation does not change, it is
\[P_0e^{rt}\] in this case \(r=.05,t=20\)

Answer 19

set
\[P_0e^{.05\times 20}=20,000\] and solve for \(P_0\)

Answer 20

ok

Answer 21

\[e^{.05\times 20}=e^1=e\]

Answer 22

P_0=20,000/e?

Answer 23

yes

Answer 24

nice hold on!

Answer 25

i am holding ...

Answer 26

7357.5?

Answer 27

lol

Answer 28

that is what i get too
http://www.wolframalpha.com/input/?i=20000%2Fe

Answer 29

fan me so I can message u!

Answer 30

k

Answer 31

message came and went rather quickly