Question

Find the amount in a continuously compounded account for the given conditions.

Answer 1

Principal: $2000
Account interest rate: 5%
Time: 2 years
So far I have
\[\huge A=2000e^{(0.05*2)}\]

Answer 2

\[A=PE ^{rt}\]

Answer 3

\[\huge A=2000e^{(0.1)}\]

Answer 4

that is right

Answer 5

Yeah I know that. I just don't know what to do next.

Answer 6

Do I just put it into a calculator?

Answer 7

\[\huge e^{(0.1)} = 1.105170918076\]

Answer 8

A=2210.3418361513

Answer 9

^^^^ @RoseDryer

Answer 10

\[\huge A=2000(1.105170918076)\]
\[\huge A=2210.3418361513\]
\[\huge A=$2,210.34\]
I have to show my work. I'm not looking for answers.

Answer 11

That's right. good job! cx

Answer 12

So my next one is
Principal: $400
Account interest rate: 6.7%
Time: 3 years

Would my equation be?
\[\huge A=400e^{(0.067*3)}\]
\[\huge A=400e^{(0.201)}\]

Answer 13

A=489.049908729332

Answer 14

I was just asking about the equation. I'm not using mathway for straight answers.

Answer 15

@ganeshie8 is my equation correct for the second one