See the attached picture:
3.674234614 is the greatest
I'm her first quiz she did better, this is going to be hard to explain but pay attention 92% as a decimal is 92/100 keep this in mind, then 27 out of 30 question we try to make 30 go into 100 but we know 30 can't go into 100 without a decimal so what we do is we change the decimal to 90 so for the 27 out of 30 it is now 81/90, now we need to change the denominator in 92/100 to 90 so we subtract 10 from the numerator and denominator to get 82/100 so compare the 2 decimals you got 81/90 and 82/90 and you find that 82/90 is bigger so she did better on the first quiz
Continuous compounding is the mathematical limit that compound interest can reach.
It is the limit of the function A(1 + 1/n) ^ n as n approaches infinity. IN theory interest is added to the initial amount A every infinitesimally small instant.
The limit of (1 + 1/n)^n is the number e ( = 2.718281828 to 9 dec places).
Say we invest $1000 at daily compounding at yearly interest of 2 %. After 1 year the $1000 will increase to:-
1000 ( 1 + 0.02/365)^365 = $1020.20
with continuous compounding this will be
1000 * e^1 = $2718.28
Answer:
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