If $600 is deposited in an account paying 11% compounded continously, then what amount will be in the account after 8 years?
I just needed to double check if A=Pe^(rt)
If $600 is deposited in an account paying 11% compounded continously, then what amount will be in the account after 8 years?
I just needed to double check if A=Pe^(rt)
If $600 is deposited in an account paying 11% compounded continously, then what amount will be in the account after 8 years?
I just needed to double check if A=Pe^(rt)
It is better to use the second formula below because e is only correct for large n as the binomial expansion shows: