Given the compund interest equation A= P(1+r/100n)^n. find the final amount if the intial deposit is $1500, the rate is 7% and the time period , n, approaches infinity
Given the compund interest equation A= P(1+r/100n)^n. find the final amount if the intial deposit is $1500, the rate is 7% and the time period , n, approaches infinity
Here, all you need to do is evaluate
Take note that this resembles the limit definition for : and in general (I leave it for you to show this is the case. You will need to apply L'Hopitals rule to this).