Math 22 Natural Exponential Functions
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:
Exercises Find the balance in an account when $3000 is deposited for 10 years at an interest rate of 4%, compounded as follows.
a) Quarterly
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a) Annually
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a) Monthly
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a) Daily
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a) Continuously
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