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OpenStudy (anonymous):
You deposit $3000 in an account that pays 5% annual interest compounded continuously. What is the balance after 2 years?
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OpenStudy (anonymous):
Y=3×2 with exponent ×-3
OpenStudy (anonymous):
Y=(3\4)exponent ×
OpenStudy (anonymous):
Y=(3\4)exponent ×
Miracrown (miracrown):
you are absolutely right, but then why did you use 3/4?
Miracrown (miracrown):
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Miracrown (miracrown):
so what is going to be the principal in this case?
Miracrown (miracrown):
P = 3000 r = 5% t = 2 Therefore ... \[A = 3000e^{0.05\times2} \]
Miracrown (miracrown):
Solve for a
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