Asked by Andrea

Suppose you deposit $1000 in an account paying 3% annual intrest, compounded continuously. Use A=Pe^rt to find the balance after 10 years
F $20,085.54
G $1300
H $1349.86
J $1068.65
Answered by mathhelper
You are given the formula AND all the data to sub into that formula.

Do you have a scientific calculator??
Took me about 9 seconds to finish the calculations.
Give it a try.
Answered by Andrea
No, I do not, unfortunately. Does the 0.03 go into the r?
Answered by mathhelper
amount = 1000 e^(.03(10))
= 1000 e^.3
= 1000 (1.349858..)

= $1349.86

How does your teacher expect you to do these calculations?
Answered by Andrea
With a calculator, I just can't afford one. Thank you very much I appreciate the help!
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