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I am being told to use 5000e^(0.06*4) for the continuous interest... But how does 'e' get use?

 Dec 8, 2016
edited by Guest  Dec 8, 2016
 #1
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e is just a constant, I don't know it by heart but it's a button on your calculator. 

 

Hint, use natural log to cancel out the damned thing.

 Dec 8, 2016
 #2
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I am being told to use 5000e^(0.06*4) for the continuous interest... But how does 'e' get use?

 

5,000 x e^0.24 =

5,000 x 1.27124915 =

=$6,356.25

 Dec 8, 2016

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