document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=340391>Question 340391</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Interest compounded continuously. Suppose that P 0 is invested in a savings account where interest is compounded continuously at 3.1% per year. * a) Express P(t) in terms of P0 and 0.031. * b) Suppose that $1000 is invested. What is the balance after 1 yr? after 2 y... </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #243942 by </B><A HREF=/tutors/aboutme.mpl?userid=solver91311><B>solver91311(24713)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=solver91311><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=solver91311><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=243942\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font face=\"Garamond\" size=\"+2\">\r<BR>\n" );
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document.write( "In general:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ P(t)\ =\ P_oe^{rt}\">\r<BR>\n" );
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document.write( "So for 3.1% per year:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ P(t)\ =\ P_oe^{0.031t}\">\r<BR>\n" );
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document.write( "For 1000 for 1 year:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ P(t)\ =\ 1000e^{0.031(1)}\">\r<BR>\n" );
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document.write( "For 1000 for 2 years:\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE \ \ \ \ \ \ \ \ \ \ P(t)\ =\ 1000e^{0.031(2)}\">\r<BR>\n" );
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document.write( "I'll leave you alone to spend some quality time with your calculator.\r<BR>\n" );
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document.write( "John<BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/rendertex.cgi?\LARGE e^{i\pi} + 1 = 0\"><BR>\n" );
document.write( "My calculator said it, I believe it, that settles it<BR>\n" );
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