document.write( "Question 38399: If a bank compounds continuous, then the formula becomes simpler, that is A=Pe^rt where e is a constant and equals approximately 2.7183. Calculate A with continuous compounding. Use 20,000 at for 3 years at a rate of 8 percent.\r
\n" ); document.write( "\n" ); document.write( "This is what I have so far:
\n" ); document.write( "A= 20,000e^.08*2
\n" ); document.write( "A= 20,000e^.16
\n" ); document.write( "= ?\r
\n" ); document.write( "\n" ); document.write( "I am lost as to finding the answer, I don't understand what to do with e. Could you please help me? Thanks, Christine \n" ); document.write( "

Algebra.Com's Answer #23891 by Nate(3500) $\"\"$ $\"About$

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If a bank compounds continuous, then the formula becomes simpler, that is A=Pe^rt where e is a constant and equals approximately 2.7183. Calculate A with continuous compounding. Use 20,000 at for 3 years at a rate of 8 percent.
\n" ); document.write( "Actually, your form should look like this:
\n" ); document.write( " $\"A=20000e%5E%283%2A.08%29\"$
\n" ); document.write( " $\"A=20000e%5E%280.24%29\"$
\n" ); document.write( "On your calculator, you would have a little 'e' to the 'x'. For graphing calculators they can have just the little 'e'. It should be located as 2nd then LN button. Next, hit the carrot sign (^). This means to a power. So, 'e' then ^ then .24 .... last, multiply by 20,000.
\n" ); document.write( "'A' should be about $25,424.98 \n" ); document.write( "

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