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Beliebt Word Problems >

If 396 is invested at an interest rate of 13% per year and is compounded continuously, how much will the investment be worth in 3 years?

Lösung

I f 396 i s in v es t e d a t an in t eres t r a t e o f 13% p er ye a r an d i s co m p o u n d e d co n t in u o u s l y, h o w m u c h w i ll t h e in v es t m e n t b e w or t h in 3 ye a rs ?

Lösung

Amount : 584.88

Schritte zur Lösung

Translate the problem into an equation:

A = 396 e^{0.13 \cdot 3}

396 e^{0.13 \cdot 3} = 584.88439 \dots

Round to the nearest hundredth:

584.88

Amount : 584.88

Beliebte Beispiele

one less than the product of four and a number The radius of a kreis is 8 cm. Find its area to the nearest tenth.Suppose an investment earns 2.9% interest compounded continuously. Find the future value of a 5900 investment after 12 years. Round your answer to the nearest cent, if necessary.three times a number, plus 6.4, is 13.9 Lily opened a savings account and deposited 763.00 as principal. The account earns 6% interest, compounded monthly. What is the balance after 8 years?