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how to solve a continuous compound interest problem. If it took 6 years for your initial amount compounded continuously at an interest rate of 4 and you ended up with 1144 then your initial principal was 9. To calculate continuously compounded interest use the formula below.
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Interest represents a change of money. A P e r t r 4 100 004. Round to two decimal places.
Continuous Compound interest An account contains 2000 and has been earning 8 interest compounded continuously.
A 2000 1 003 2 212180. This algebra precalculus video tutorial explains how to use the compound interest formula to solve investment word problems. We use many of the same methods for calculating continuous compound interest as we do finitely compounded interest. T 231 Fini sh solving the problem by dividing each side by 12 and round your final answer.
