Question 1130478
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In this case, k = 0.07 which is the decimal form of 7%


So the function {{{P(t) = P*e^(k*t)}}} turns into {{{P(t) = P*e^(0.07*t)}}} which is the final answer


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 {{{P(t) = P*e^(0.07*t)}}} turns into {{{P(t) = 300*e^(0.07*t)}}}. However, we aren't given the value of P, so we leave it alone. 


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
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