How much money did he have at the end 8 years?(At=Pe^rt)?

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Raoul deposited $1640 at 8 percent interest compounded continuously.

2007-05-31 04:17:55 · 2 answers · asked by Anonymous in Science & Mathematics ➔ Mathematics

$1640 x exp(0.64) = $1640 x 1.8965 = $3110.23.

2007-05-31 04:22:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋

Amount = $1640e^(rt)

Amount = $1640e^(8*0.08)

Amount = $1640*1.896

Amount = $3,110.23

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2007-05-31 04:25:35 · answer #2 · answered by Robert L 7 · 0⤊ 0⤋