Question

Can someone explain what I'm doing wrong? The problem is: If $396 is invested at an interest rate of 13% per year and is compounded continuously, how much will the investment be worth in 3 years?
So far I have A=$396e^(0.39) but after I multiply it all out I get 419.8 which isn't an option. e=2.7183 right?

Answer 1

my calculator says 584.88, not sure if you're multiplying first or what

Answer 2

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Answer 3

agree with @bibby 's calculator

Answer 4

can you type what you are putting in

Answer 5

or draw if you prefer

Answer 6

following pedmas, the exponent gets done first. not sure why you're multiplying what you are. \(396e^{0.39}=396*1.47698...\)

Answer 7

oh i see what you ddi

Answer 8

you actually multiplied everything

Answer 9

I just simplified e^0.39

Answer 10

396e^(0.39)
shouldn't be entered as 396*e*.39

it should be entered as 396*e^(.39)

Answer 11

my point was that ^ is a carat. it means exponents/powers/whatever the word for it is

Answer 12

that carat symbol should be found somewhere on the calculator I believe
on a ti83 is is above the division sign

Answer 13

you have ti83?

Answer 14

if not what calculator

Answer 15

ok do you see the ln button?

Answer 16

here are the relevant keys http://puu.sh/ePiCV.jpg

Answer 17

you won't actually have to use the carat button because if you use the 2nd key along with that button then they will let you use e^x
where you will get to enter x as .39

Answer 18

any time

Answer 19

Ik i couldnt help in THIS but...if you have another question........

Answer 20

\(\frak\huge\color{#8a2be2}{Tag~Me!}\)