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how to solve compound interest with exponents. The formula itself is as follows. FV is the future value.
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Lets solve a few continuously compounded interest problems. I would choose option 1. You can divide both sides by 100.
A savings fund is opened with 2750.
The Rule of 72 is another way to make estimates about compound interest quickly. Ifwearesolvingforthetimetthenwewillneedtouselogarithms becausethecompoundinterestformulaisanexponentialequationandsolvingexponentialequations with differentbasesrequirestheuseoflogarithms. A savings fund is opened with 2750. Where A is the ending amount P is the beginning amount or principal r is the interest rate expressed as a decimal n is the number of compoundings a year and t is the total number of years.
