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Popolare Word Problems >

You deposit 4000 in an account earning 7% interest compounded continuously. How much will you have in the account in 10 years?

Soluzione

Y o u d e p os i t 4000 in an a cco u n t e a r nin g 7% in t eres t co m p o u n d e d co n t in u o u s l y . Ho w m u c h w i ll yo u ha v e in t h e a cco u n t in 10 ye a rs ?

Soluzione

Amount : 8055.01

Fasi della soluzione

Translate the problem into an equation:

A = 4000 e^{0.07 \cdot 10}

4000 e^{0.07 \cdot 10} = 8055.01082 \dots

Arrotondare all' hundredth più vicino:

8055.01

Amount : 8055.01

Esempi popolari

Kurt has 9,000 in an account. The interest rate is 5% compounded annually.To the nearest cent, how much will he have in 1 year?What is the probability that we get the head at least two times when we toss a coin three times?a number increased by 2 8000 for 4 years at 6.5% compounded monthly. what is the amount of interest?a number increased by 9