Asked by Terri
A person deposits $1000 in a bank account which pays 8% annual interest compounded
continuously.
Used formula A=Pe^in
You get A=(1000)e^.08(1)=1000e^.08≈
1000(1.08329) ≈ $1,083.29
My question is how do you get 1.08329 from e^.08
continuously.
Used formula A=Pe^in
You get A=(1000)e^.08(1)=1000e^.08≈
1000(1.08329) ≈ $1,083.29
My question is how do you get 1.08329 from e^.08
Answers
Answered by
Reiny
On most calculators, the e^x key will
be the inverse key of the lnx operation.
On my calc I would enter the following
2ndF
ln
.08
=
To get 1.08328.....
On some calcs you would enter the number first, then 2nfF on
Try it to see which way yours works
be the inverse key of the lnx operation.
On my calc I would enter the following
2ndF
ln
.08
=
To get 1.08328.....
On some calcs you would enter the number first, then 2nfF on
Try it to see which way yours works
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.