00:01
I see that phrase compounded continuously again.
00:04
So that's telling me to use pert formula, p -e to the rt.
00:10
So as you break down everything that's given to you, we want to end with 18 ,000.
00:17
If we start with 15 ,000, we don't know the rate.
00:21
That's what we're trying to find.
00:22
Remember, e is just a number, by the way.
00:24
E is always the same number.
00:27
And they tell you in five years.
00:29
So after five years.
00:32
So we have to find that interest rate.
00:34
It's always the same steps, by the way.
00:36
You want to divide the principle over.
00:40
That way, it's just an exponential function.
00:43
And by the way, you can reduce, but you don't have to, you know, divide both top and bottom by a thousand.
00:50
You have 18 over 15.
00:52
You can divide both those by three as well...