Continuous Compound Interest

What does the variable 'e' represent in the formula?

• Natural base

• Principle

• Rate of growth

• Time

What is the approximate value of the natural base 'e'?

• 3.14

• 1.618

• 1.414

• 2.71

In the formula, what does the variable 'R' represent?

• Natural base

• Rate of growth

• Principle

• Time

Tags

CCSS.HSF-IF.C.8B

What does the variable 'T' represent in the formula?

• Rate of growth

• Time

• Natural base

• Principle

Tags

CCSS.HSF-IF.C.8B

If the initial amount is $1000 and the rate of growth is 0.02, what will be the amount after 7 years?

• $1100.73

• $1200.54

• $1250.36

• $1150.27

If the initial amount is $500 and the rate of growth is 0.03, what will be the amount after 5 years?

• $600.75

• $580.92

• $550.25

• $525.50

Tags

CCSS.HSF.BF.A.2

If the initial amount is $2000 and the rate of growth is 0.05, what will be the amount after 3 years?

• $2323.67

• $2200.50

• $2105.25

• $2405.75

If the initial amount is $1500 and the rate of growth is 0.04, what will be the amount after 6 years?

• $1906.87

• $1821.47

• $1680.72

• $1750.60