Question 32278: Bill incested $2,000 at 9% compounded continuously. How much money did he have after 4 years? (steps on a calculator) Found 2 solutions by mukhopadhyay, TinaH:Answer by mukhopadhyay(490) (Show Source):
You can put this solution on YOUR website! A=p[e^(rt)]
=>A=2000[e^(.09*4)]
=>A=2000(e^.36)
Use calculator to find the amount on the right side; this will give you the answer.
You can put this solution on YOUR website! On a TI-83 calculator I plugged in 2000 2nd key e^(.09 x 4) hit enter answer is
2866.658829 round if directions say, or instructor say.
Also be sure to use parenthesis.
using the A=Pe^rt formula
p=origional amount 2000.00
e^
r=rate 9% converted to decimal .09
t= time in this example 4 years
(
