Explore BrainMass

Continuous Compound Interest

If a bank compounds continuously, then the formula is A=Pe^rt, where E is a constant and e = 2.7183.

A= 2,000 with continues compounding. How do I round it off to the hundredth place?

How long will it take to double my money at 8% interest rate.

Don't just give the answer please show how.

Solution Summary

This solution includes step by step detailed solution is provided to explain the concept of continuous compound interest.