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OpenStudy (haleyelizabeth2017):
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?
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OpenStudy (haleyelizabeth2017):
Would this be \[8500\times e^{0.0675t}\]where I plug in 25 for t?
OpenStudy (ltrout):
Yes that would be correct
OpenStudy (haleyelizabeth2017):
And how would I do it if it were semi annually?
OpenStudy (haleyelizabeth2017):
And for the continuous, if it were 5 years, 3 months....i'd plug in 5.25 for t?
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