bryantomon2536 bryantomon2536

19-12-2022
Mathematics

Answered

The formula for the amount A in a savings account compounded n times per year for t years at an interest rate r and an initial deposit of P is given by A = P(1 + r/n)^nt. Use L’Hôpital’s Rule to show that the limiting formula as the number of compoundings per year approaches infinity is given by A = Pe^rt.

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