document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=739058>Question 739058</A>: <I><SPAN STYLE=\"word-break: break-all;\"> This is a story problem. It reads, \"you deposit 2500 dollars in an account that pays 3.5% annual interest compounded continuously. What is the balance after eight years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #451000 by </B><A HREF=/tutors/aboutme.mpl?userid=lwsshak3><B>lwsshak3(11628)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=lwsshak3><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=451000\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> This is a story problem. It reads, \"you deposit 2500 dollars in an account that pays 3.5% annual interest compounded continuously. What is the balance after eight years?<BR>\n" );
document.write( "**<BR>\n" );
document.write( "Formula for continuous compounding:<BR>\n" );
document.write( "A=Pe^rt, P=initial deposit, r=interest rate, t=years, A=amt after t years<BR>\n" );
document.write( "For given problem:<BR>\n" );
document.write( "P=2500<BR>\n" );
document.write( "r=.035<BR>\n" );
document.write( "t=8<BR>\n" );
document.write( "A=2500*e^(.035*8)&#8776;3308<BR>\n" );
document.write( "Balance after eight years=$3308 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );