Question

What is the compound interest formula?

Answer 1

Tom decides to invest $10,000 into a bank account that promises 3.5 percent interest compounded continuously. Which equation provides the model for principal growth for Tom's savings account?

Answer 2

@nincompoop

Answer 3

\[Pt=10,000e^3.^5*t\]

Answer 4

Its set up like that except t is up

Answer 5

but I just need the formula

Answer 6

cause it could be a -3.5

Answer 7

or a -0.0035

Answer 8

or a 3.5

Answer 9

or a -3.5

Answer 10

@wio

Answer 11

The compound interest formula is \[A=Pe ^{rt}\]

A=Final Amount
P=Principal (starting) amount
e=the irrational number e
r=Interest rate expressed as a decimal (so for example 3.5 % is .035)
t=time

Answer 12

thanks you smart