SOLUTION: For a fixed rate, a fixed principal amount, and a fixed compounding cycle, the return is an exponential function of time. Using the formula, A=P(1+r/n)^nt, let r = 10%, P = 1, and

Question 64208: For a fixed rate, a fixed principal amount, and a fixed compounding cycle, the return is an exponential function of time. Using the formula, A=P(1+r/n)^nt, let r = 10%, P = 1, and n = 1 and give the coordinates (t,A) for the points where t = 0,1,2,3,4. Round your answer to the hundreth's place. Show graph
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A=P(1+r/n)^nt, let r = 10%, P = 1, and n = 1 and give the coordinates (t,A) for the points where t = 0,1,2,3,4. Round your answer to the hundreth's place. Show graph
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A(t)=P(1+(r/n))^nt)
A(0)=1(1+0.1/1)^(1*0)=1(1.01)^(0)=1
A(1)=1(1+0.1/1)^(1*1)=1.01
A(2)=1(1+0.1/1)^(1*2)=1.01^2=1.0201
A(3)=1(1+0.1/1)^(1*3)=1.01^3=1.0303
A(4)= I'll leave this to you.

Cheers,
Stan H.
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