e*0.8 is 2.25 according to my calculator.
Put this into the google search window..
2000*e^0.8
I am dealing with Interest Compounded Continuosly. I am looking for the balance after 10 years. The book shows that P(10) = 2oooe^0.08(10)
= 2000e^0.8
= $4451.08
My questions is how do you calculate 2000e^o.8 and end up with 4451.08?
5 answers
With no interest rate and no principal given, it's tough for us to know how to help you.
The interest rate is 8%.
On your calculator, put in 0.8, hit the e^x button, then multiply that by 2000. I get 4451.08.
I usually use 2000*{[(0.08/365)+1]^365}^10 which gives 4450.69
My calculator gives 4450.69 also when using the TVM mode.
I usually use 2000*{[(0.08/365)+1]^365}^10 which gives 4450.69
My calculator gives 4450.69 also when using the TVM mode.
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3 answers