Schaum's Outline of Calculus by Frank Ayres

Author:Frank Ayres
Language: eng
Format: epub, pdf
Publisher: McGraw-Hill Companies, Inc.
Published: 2013-01-28T16:00:00+00:00

Hence, it would take about 22.7727 minutes for the object’s temperature to drop from 70° to 60°.

8. Compound Interest. Assume that a savings account earns interest at a rate of r% per year. So, after one year, an amount of P dollars would become dollars and, after t years, it would become dollars. However, if the interest is calculated n times a year instead of once a year, then in each period the interest rate would be (r/n)%; after t years, there would have been nt such periods and the final amount would be If we let , then we say that the interest is compounded continuously. In such a case, the final amount would be

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