Oct 28

In class today we went over HW28: The Limit of Their Generosity.

Yesterday, Adam deposited $1000 in the bank. At first the bank was going to double his money in 20 years.

Adam persuaded the bank to instead of giving him 100% interest at the end of 20 years to give him 5% interest each year for 20 years.

Adam them persuaded the bank to calculate the interest every 6 months and then persuaded them to calculate the interest every 3 months.

Adam noticed that he was getting more money the more often the bank was calculating the interest.

In HW28, Adam tries to persuade the bank to calculate the interest on a daily basis and then on an hourly basis. In class we even calculated on a minute basis.

What discoveries did we make? Please share your results (several students were absent from class b/c of PSAE testing and would benefit from sharing results).

Lastly, we tried to solve this equation: 2^x = e^?
Can you find the value of the question mark?