Math Problem Statement
If $2,000 is invested for t years at 4% compounded continuously, the total amount is given by A(t) = 2000e.04t
Find A(10)
Solution
The total amount after 10 years, , is approximately $2983.65.
Would you like more details or have any questions?
Here are 5 related questions you might want to explore:
- What is the value of after 15 years?
- How does the formula change for different interest rates?
- What would the amount be if the initial investment was $3,000 instead?
- How do we calculate the amount for discrete compounding instead of continuous compounding?
- What is the time required for the investment to double?
Tip: Continuous compounding uses the formula , where is the principal, is the rate, and is the time.
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Math Problem Analysis
Mathematical Concepts
Exponential Growth
Continuous Compound Interest
Logarithmic Functions
Formulas
A = Pe^(rt)
Theorems
Exponential Growth Theorem
Continuous Compounding Formula
Suitable Grade Level
Grades 10-12
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