OpenStudy (howard-wolowitz):

Am I correct with 950 here?

2 years ago
OpenStudy (welshfella):

A = P e ^rt

2 years ago
ganeshie8 (ganeshie8):

Are you saying you will get 950, which is same as the starting investment, after 10 years ? why do you want to put money in bank for 10 years that pays no interest ?

2 years ago
OpenStudy (howard-wolowitz):

which equals 9511 when rounded

2 years ago
ganeshie8 (ganeshie8):

that doesn't look real/correct which formula are you using?

2 years ago
OpenStudy (howard-wolowitz):

sorry I didnt mean $950, I meant $9511

2 years ago
ganeshie8 (ganeshie8):

are you using the formula given by welshfella ?

2 years ago
OpenStudy (howard-wolowitz):

yes

2 years ago
ganeshie8 (ganeshie8):

\[\large A = 950*e^{0.065*10} = ?\]

2 years ago
ganeshie8 (ganeshie8):

use calculator/wolfram

2 years ago
OpenStudy (howard-wolowitz):

1819

2 years ago
ganeshie8 (ganeshie8):

careful, 1819.76 rounds to 1820

2 years ago
OpenStudy (howard-wolowitz):

unless you round up 10 1820

2 years ago
ganeshie8 (ganeshie8):

1820 is right

2 years ago