Question

If the Laffite family deposits $8,500 in a savings account at 6.75% interest, compounded continuously, how much will be in the account after 25 years?

Answer 1

Would this be \[8500\times e^{0.0675t}\]where I plug in 25 for t?

Answer 2

Yes that would be correct

Answer 3

And how would I do it if it were semi annually?

Answer 4

And for the continuous, if it were 5 years, 3 months....i'd plug in 5.25 for t?