Question 563684
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In the case of continuous compounding, because *[tex \Large \lim_{n\right\infty}\,\left(1\ +\ \frac{r}{n}\right)^{nt}\ =\ e^{rt}], the formula for accumulated amount (aka Future Value) of a single deposit investment is:


*[tex \LARGE \ \ \ \ \ \ \ \ \ \ A\ =\ Pe^{rt}]


Where *[tex \Large A] is the accumulated amount, *[tex \Large P] is the starting principal, *[tex \Large e] is the base of the natural logs, *[tex \Large r] is the annual interest rate <i>expressed as a decimal</i>, and *[tex \Large t] is the term of the investment in years.


For your problem:


*[tex \LARGE \ \ \ \ \ \ \ \ \ \ A\ =\ 8000e^{0.095t}]


Just plug in your number of years and let your fingers do the walking on your calculator.


John
*[tex \LARGE e^{i\pi} + 1 = 0]
My calculator said it, I believe it, that settles it
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