document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=252990>Question 252990</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Please solve this word problem, about continuous compounding\r<BR>\n" );
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document.write( "You invest $1,100 in an account that has an annual intrest rate of 2.1%, compounded continuously. How much money will be in the account after 7 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #185197 by </B><A HREF=/tutors/aboutme.mpl?userid=Theo><B>Theo(13342)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Theo><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=Theo><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=185197\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> continuous compounding formula is\r<BR>\n" );
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document.write( "f = future value<BR>\n" );
document.write( "p = present amount<BR>\n" );
document.write( "r = annual interest rate expressed as a proportion (percent divided by 100% = proportion)<BR>\n" );
document.write( "t = time in years<BR>\n" );
document.write( "e = the scientific constant that is equivalent to 2.718281828.........\r<BR>\n" );
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document.write( "in your problem:\r<BR>\n" );
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document.write( "p = $1,100<BR>\n" );
document.write( "r = 2.1% / 100% = .021<BR>\n" );
document.write( "t = 7\r<BR>\n" );
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document.write( "substitute in the formula to get:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=f+=+1100%2Ae%5E%28.021%2A7%29 ALIGN=MIDDLE  ALT=\"f+=+1100%2Ae%5E%28.021%2A7%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "answer is:\r<BR>\n" );
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document.write( "f = 1274.189359\r<BR>\n" );
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document.write( "you will have $1,274.19 at the end of 7 years using continuous compounding.\r<BR>\n" );
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document.write( " </SPAN>\n" );
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