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avatar+4684 

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The meaning of the function above is: 

The continuous change function is a special exponential function that models exponential change and is given by the following formula.

When an amount, P, grows exponentially, the rate in which it increases is endlessly getting faster. The result, , of this continuous change is found with the continuous change function.

The e in the function is a special transcendental number (like p) that is approximately equal to 2.72. This number e turns up in many exponential growth and decay situations.

The r in the function stands for the rate as a decimal and t represents the elapsed time.

 Nov 20, 2018
 #1
avatar+99580 
+2

This is known as "continuous compounding".......we have

 

2500 * e^(.05 * 6 )   =  $3374.65

 

 

 

cool cool cool

 Nov 20, 2018

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