Question 1120705
Suppose that ​$10,095 is invested at an interest rate of 6.2​% per​ year, compounded continuously.
​a) Find the exponential function that describes the amount in the account after time​ t, in years.
​b) What is the balance after 1​ year? 2​ years? 5​ years? 10​ years?
​c) What is the doubling​ time?

I don't know how to set up the formula. Once the formula is set up I know that I substitute the number into t.
<pre>Correct formula: {{{highlight_green(matrix(1,3, A(t), "=", Pe^(rt)))}}}, where:
P = $10,095
e = 2.7182818.......
r = Annual interest rate (6.2%, or .062, in this case)
t = time

What is wrong with these people on here? How can an amount take less than 1 YEAR to double? RIDICULOUS!!
At a rate of 6.2%, and with CONTINUOUS compounding, ANY investment/deposit will take {{{highlight_green(matrix(1,2, 11.18, years))}}} to DOUBLE!