document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=145287>Question 145287</A>: <I><SPAN STYLE=\"word-break: break-all;\"> I am to recall that, when interest is compounded continuously, the balance in an account after t years is given by <BR>\n" );
document.write( "A = Pe^rt,<BR>\n" );
document.write( "where P is the initial investment and r is the interest rate. \r<BR>\n" );
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document.write( "Suppose that $2000 is invested at a rate of 6% per year compounded continuously. What is the balance after 1 yr? After 2 yrs?\r<BR>\n" );
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document.write( "Thank you in advance. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #105957 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=105957\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> A = Pe^rt,<BR>\n" );
document.write( "where P is the initial investment and r is the interest rate. <BR>\n" );
document.write( "Suppose that $2000 is invested at a rate of 6% per year compounded continuously. What is the balance after 1 yr? After 2 yrs? <BR>\n" );
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document.write( "A(1) = 2000*e^(0.06*1)<BR>\n" );
document.write( "A(1) = $2123.67<BR>\n" );
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document.write( "A(2) = 2000*e^(0.06*2)<BR>\n" );
document.write( "A(2) = $2254.99<BR>\n" );
document.write( "====================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );