If you deposit $750 in an account that pays 8% annual interest compounded continuously, what will be the balance after five years?
the formula is A=Pe^rt
how do you solve?

Question

If you deposit $750 in an account that pays 8% annual interest compounded continuously, what will be the balance after five years?
the formula is A=Pe^rt
how do you solve?

anonymous · Answer

$$A=750e^{.08\times 5}$$ and a calculator

anonymous · Answer

to make it easier to input compute $$.08\times 5=.4$$first

anonymous · Answer

http://www.wolframalpha.com/input/?i=750e^%28.4%29

anonymous · Answer

btw no one compounds interest continuously
continuous growth and decay are found in nature, not banks

anonymous · Answer

clear or no?

maddy1251 · Answer

@satellite73 you can tell my teacher that. xDD But yeah, I think you have to use logs to get it in the simplified form, no?

anonymous · Answer

oh no

anonymous · Answer

it is a straight forward input
you need logs to solve for the variable in the exponent
like if it said 
"when will the amount be $1500 ?" for example

anonymous · Answer

it is not "simplified form" whatever that means, it is a dollar amount 
"what will be the balance after five years?"

anonymous · Answer

now i have a question

maddy1251 · Answer

Yes?

anonymous · Answer

what the monkey is a "Jr. Turkey Committee"?

maddy1251 · Answer

Haha I show in 4-H, and in 4-H we show turkeys, and there is a committee that helps kids with the turkey project, I happen to be one of the "youth" that helps project members @satellite73

anonymous · Answer

bet you were busy over thanksgiving!

maddy1251 · Answer

@satellite73 Hahah well of course :D