document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1130478>Question 1130478</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Hi there, can someone help me break down and solve this type of problem.  The tutors at my college seem to have trouble helping with word problems, and I am in great need of understanding this before finals in a couple of weeks.\r<BR>\n" );
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document.write( "Suppose that P is invested in a savings account in which&#8203; interest, k, is compounded continuously at 7&#8203;% per year. The balance&#8203; P(t) after time&#8203; t, in&#8203; years, is &#8203;P(t)=Pe Superscript kt.<BR>\n" );
document.write( "&#8203;a) What is the exponential growth function in terms of P and 0.07&#8203;?\r<BR>\n" );
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document.write( "&#8203;P(t)=_____ </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #747160 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><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=747160\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font color=\"black\" face=\"times\" size=\"3\"><BR>\n" );
document.write( "In this case, k = 0.07 which is the decimal form of 7%\r<BR>\n" );
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document.write( "So the function <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P%28t%29+=+P%2Ae%5E%28k%2At%29 ALIGN=MIDDLE  ALT=\"P%28t%29+=+P%2Ae%5E%28k%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > turns into <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P%28t%29+=+P%2Ae%5E%280.07%2At%29 ALIGN=MIDDLE  ALT=\"P%28t%29+=+P%2Ae%5E%280.07%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > which is the final answer\r<BR>\n" );
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document.write( "Note: if we knew the initial deposit amount P, then we could replace this letter with that value. Eg: let's say that $300 is deposited, then that would mean in this hypothetical example that <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P%28t%29+=+P%2Ae%5E%280.07%2At%29 ALIGN=MIDDLE  ALT=\"P%28t%29+=+P%2Ae%5E%280.07%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" > turns into <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=P%28t%29+=+300%2Ae%5E%280.07%2At%29 ALIGN=MIDDLE  ALT=\"P%28t%29+=+300%2Ae%5E%280.07%2At%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >. However, we aren't given the value of P, so we leave it alone. \r<BR>\n" );
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document.write( "Another note: the 'e' refers to the constant 2.718... which is similar to the constant pi = 3.14...; this constant 'e' is often found in growth rate problems<BR>\n" );
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