Answer:
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Step-by-step explanation:
Add the nominal interest rate in decimal form to 1. The first order of operations is parentheses, and you start with the innermost one. ...
Solve step one to the power of how many compounding periods. ...
Subtract from step two. ...
Multiply step three by the principal amount.
if $8000 is invested for 6 years at a rate 8% compounded continuously, find the new amount: P = $8000, r = 0.08, t = 6 years. A = 8000.e(0.08)(6) = 8000.
