document.write( "Question 81523: Find the total savings if 300 is compounded continuously for: 3 years at 6% \n" ); document.write( "
Algebra.Com's Answer #58352 by mathdoc316(9)\"\" \"About 
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Compound interest is computed with \"e\", the natural base for exponential functions.\r
\n" ); document.write( "\n" ); document.write( "The formula is \"A%28t%29+=+P+%2A+e%5E%28r%2At%29+\" where P is the principal amount, A(t) is the amount at time t, and r is the rate\r
\n" ); document.write( "\n" ); document.write( "Evaluating this I get \"+300+%2A+e%5E%280.06+%2A+3%29+=+300+%2A+e%5E%280.18%29+=+300+%2A+1.1972+=+359.17+\" (correct to two decimal places).\r
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