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When interest is compounded continuously, the balance in an account after t years is given by

P(t) = P0ekt, where P0 is the initial investment and k is the interest rate. Suppose that P0 is

invested in a savings account where interest is compounded continuously at 9% per year.

Express P(t) in terms of P0 and 0.09

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Michael F. | Mathematics TutorMathematics Tutor
4.7 4.7 (7 lesson ratings) (7)
P(t) = P0ekt should be P(t)=P0ekt which for k=9% is just P0e.09t