Emma puts 600.00 into an account to use for school expenses. The account earns 12% interest, compounded continuously. How much will be in the account after 10 years?

Solution

Solution

Amount : 1992.07

Solution steps

Translate the problem into an equation:

A = 600 e^{0.12 \cdot 10}

600 e^{0.12 \cdot 10} = 1992.07015 \dots

Round to the nearest hundredth:

1992.07

Amount : 1992.07

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