SOLUTION: When interest is compounded continuously, the balance in an account after t years is given by P(t)=PO^e^kt, where PO is the initial investment and k is the interest rate. Suppose t

Algebra.Com
Question 726265: When interest is compounded continuously, the balance in an account after t years is given by P(t)=PO^e^kt, where PO is the initial investment and k is the interest rate. Suppose that PO is invested in a savings account where interest is compounded continuously at 8% per year. Express P(t) in terms of PO and 0.08
Answer by stanbon(75887)   (Show Source): You can put this solution on YOUR website!
Suppose that PO is invested in a savings account where interest is compounded continuously at 8% per year. Express P(t) in terms of PO and 0.08
-----
P(t) = Po*e^(0.08t)
=========================
Cheers,
Stan H.

RELATED QUESTIONS

Solve the problem. When interest is compounded continuously, the balance in an account (answered by KMST)
Interest Compounded Continuously. Suppose that Po is invested in a savings account... (answered by solver91311)
when interest is compounded continouously, the balance in an account after t years is... (answered by Theo)
P₀ is invested in a savings account where interest is compounded continuously at... (answered by Theo)
I am to recall that, when interest is compounded continuously, the balance in an account... (answered by stanbon)
When interest is compounded continuously, the balance in an account after t years is... (answered by jim_thompson5910)
This problem is a story problem using the formula listed below. When interest is... (answered by stanbon)
I am to recall that, when interest is compounded continuously, the balance in an account... (answered by stanbon)
Please help me When interest is compounded continuously, the balance in an account after (answered by stanbon,jim_thompson5910)