math word problem-help needed

find the accumulated value of an investment of 5000 at 9% compounded continuously for 6 years.

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asked by john
  1. Amount = 5000(e)^(.09x6)
    = 5000(e^.54)
    = 8580.03

    your general formula is
    Amount = Principal(e)rt where r is the annual rate and t is the number of years.

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    posted by Reiny
  2. I don't understand what it is exaclty you multiply to get 8580.03. Please respond back. I need to understand this. Because when I multiply 5000x.54 I don't get that.

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  3. I am using the exponential function e^x

    it is the inverse function of ln on your calculator.

    The nature of the question requires you to know about exponential functions.

    On my calculator I press
    2nd F (ln)
    .54
    =
    to get 1.7160068...

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    posted by Reiny

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