pianoplaya16
New member
- Joined
- Mar 12, 2007
- Messages
- 16
Can someone please help me with this problem? I have the formula but I don't know how to solve this problem.
Jack is planning a vacation to Bermuda. The whole trip will cost $688. He now has $375 at what rate will the bank have to continuously compound his money so that he can afford to go to Bermuda in two years?
A=Pe^rt
A=Amount
P=Principle
r=rate
t=time
so... 688=375e^(r)(2)
What do I do from here? How do I solve for r?
Jack is planning a vacation to Bermuda. The whole trip will cost $688. He now has $375 at what rate will the bank have to continuously compound his money so that he can afford to go to Bermuda in two years?
A=Pe^rt
A=Amount
P=Principle
r=rate
t=time
so... 688=375e^(r)(2)
What do I do from here? How do I solve for r?
