Brian opened a bank account that compounded continuously. The amount, y, in Brian's account can be modeled by this equation. y=nekt
Where n is the initial amount deposited,
t is the time in years, and
k is the growth constant.
Brian deposited $500 initially and did not make any more deposits or withdrawals. After 8 years, Brian's account has a balance of $625.
What is the value of k?
O A k =
In(.8)
8
O c. k=
In(500)
5000
O B. k=
In(625)
4000
O D. k=
In(1.25)
8