Question

Please help:)))

Answer 1

@jim_thompson5910 is there a specific formula for this problem i need to use?

Answer 2

hmm it doesn't say continuous growth or annual growth, but I'm going to assume continuous

Answer 3

ok

Answer 4

the formula used would be

\[\LARGE A = P*e^{r*t}\]

Answer 5

\[\LARGE A = P*e^{r*t}\]
In this case,
A = 38904
P = 32420
r = unknown
t = 3

Answer 6

okay and is e unknown?

Answer 7

am i solving for e?

Answer 8

e = 2.718...

http://www.mathsisfun.com/numbers/e-eulers-number.html

it's like pi = 3.14...

Answer 9

okay i got 5797... i think thats wrong

Answer 10

let me try again

Answer 11

A = 38904
P = 32420
r = unknown
t = 3
plug in the values, solve for r
\[\LARGE A = P*e^{r*t}\]
\[\LARGE 38904 = 32420*e^{r*3}\]
\[\LARGE \frac{38904}{32420} = \frac{32420*e^{3r}}{32420}\]
\[\LARGE 1.2 = e^{3r}\]
\[\LARGE e^{3r} = 1.2\]
see what to do next?