document.write( "Question 1137109: A bank account starts with $700 and earns an annual interest rate of 6%. Use the continuous compounding formula to estimate the balance after 4 years.\r
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Algebra.Com's Answer #754942 by Theo(13342)\"\" \"About 
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the continuous compounding formula is f = p * e ^ (r * t).\r
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\n" ); document.write( "\n" ); document.write( "f is the future value.
\n" ); document.write( "p is the present value.
\n" ); document.write( "r is the interest rate per time period.
\n" ); document.write( "t is the number of time periods.
\n" ); document.write( "e is the scientific constant of 2.718281828.\r
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\n" ); document.write( "\n" ); document.write( "in your problem, .....\r
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\n" ); document.write( "\n" ); document.write( "p is 700.
\n" ); document.write( "r = 6% = .06 per year.
\n" ); document.write( "t = 4 yers.\r
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\n" ); document.write( "\n" ); document.write( "the formula becomes f = 700 * e ^ (.06 * 4).\r
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\n" ); document.write( "\n" ); document.write( "solve for f to get f = 889.8744052.\r
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\n" ); document.write( "\n" ); document.write( "if you don't have the constant e in your calculator, then f = 700 * 2.718281828 ^ (.06 * 4) = the same.\r
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