document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=250576>Question 250576</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose that $6000 is invested in an account where interest is compounded continuously at 3.7% per year. What is the balance after 1 year? after 2 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #182466 by </B><A HREF=/tutors/aboutme.mpl?userid=nerdybill><B>nerdybill(7384)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=nerdybill><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/cgi-bin/show-face.mpl?user=nerdybill><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=182466\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Suppose that $6000 is invested in an account where interest is compounded continuously at 3.7% per year. What is the balance after 1 year? after 2 years?<BR>\n" );
document.write( ".<BR>\n" );
document.write( "The equation for \"continuously compounded interest\" is:<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+Pe%5E%28rt%29 ALIGN=MIDDLE  ALT=\"A+=+Pe%5E%28rt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "where<BR>\n" );
document.write( "A is the amount after t years<BR>\n" );
document.write( "P is the initial principal<BR>\n" );
document.write( "r is the interest rate<BR>\n" );
document.write( "t is the time<BR>\n" );
document.write( ".<BR>\n" );
document.write( "Your equation, with the parameters from your problem:<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+Pe%5E%28rt%29 ALIGN=MIDDLE  ALT=\"A+=+Pe%5E%28rt%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+6000e%5E%28.037t%29 ALIGN=MIDDLE  ALT=\"A+=+6000e%5E%28.037t%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( ".<BR>\n" );
document.write( "For 1 year:<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+6000e%5E%28.037%281%29%29 ALIGN=MIDDLE  ALT=\"A+=+6000e%5E%28.037%281%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+6000e%5E%28.037%29 ALIGN=MIDDLE  ALT=\"A+=+6000e%5E%28.037%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+6000%281.03769%29 ALIGN=MIDDLE  ALT=\"A+=+6000%281.03769%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "A = $6226.16<BR>\n" );
document.write( ".<BR>\n" );
document.write( "For 2 years:<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+6000e%5E%28.037%282%29%29 ALIGN=MIDDLE  ALT=\"A+=+6000e%5E%28.037%282%29%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+6000e%5E%28.074%29 ALIGN=MIDDLE  ALT=\"A+=+6000e%5E%28.074%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=A+=+6000%281.07681%29 ALIGN=MIDDLE  ALT=\"A+=+6000%281.07681%29\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "A = $6460.84<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );