!! Create either a compound interest application problem or a continuous compound interest application problem. Set up the word problem, clearly defining the known values (and the one unknown value you are solving for) using complete sentences. NOTE: if you do NOT choose continuous compound interest, you need to clearly state how many times the rate is being compounded per year, such as annually, monthly, quarterly, etc. Do not solve your problem, leave that for your classmates to do!
Then,? write what do you think about their questions and write the solution step by step. don’t use he/she. judge like you are giving them advice’s.
Here is post from other students.
I chose to do a continuous compound interest formula.
You invest $7077 with an annual interest rate of 5.5%.
Calculate the amount you will have in the account after 5 years.
B. Going to give this a try early, a little confused but I believe I got it.
Continuous Compound Interest:
Robyn deposits 4,000 into her account that pays 4.25% compounded continuously.
A = 4,000e(0.0425^T)
How much would she have in 8 years?
How long would it take to triple her money?