Difference between revisions of "Math 22 Natural Exponential Functions"
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==Compound Interest== | ==Compound Interest== | ||
| − | Let <math>P</math> be the amount deposited, <math>t</math> the number of years, <math>A</math> the balance, and <math>r</math> the annual interest rate (in decimal form). | + | Let <math>P</math> be the amount deposited, <math>t</math> the number of years, <math>A</math> the balance, |
| + | and <math>r</math> the annual interest rate (in decimal form). | ||
1. Compounded <math>n</math> times per year: <math>A=P(1+\frac{r}{n})^{rt}</math> | 1. Compounded <math>n</math> times per year: <math>A=P(1+\frac{r}{n})^{rt}</math> | ||
2. Compounded continuously: <math>A=Pe^{rt}</math> | 2. Compounded continuously: <math>A=Pe^{rt}</math> | ||
Revision as of 06:57, 11 August 2020
Limit Definition of
The irrational number is defined to be the limit:
Compound Interest
Let be the amount deposited, the number of years, the balance, and the annual interest rate (in decimal form). 1. Compounded times per year: 2. Compounded continuously:
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