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Beliebt Word Problems >

David invested 89,000 in an account paying an interest rate of 3.1% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest ten dollars, would be in the account after 15 years?

Lösung

D a v i d in v es t e d 89, 000 in an a cco u n t p a y in g an in t eres t r a t e o f 3.1% co m p o u n d e d co n t in u o u s l y . A ss u min g n o d e p os i t s or w i t h d r a w a l s a re ma d e, h o w m u c h m o n ey, t o t h e n e a res t t e n d o ll a rs, w o u l d b e in t h e a cco u n t a f t er 15 ye a rs ?

Lösung

Amount : 141689.26

Schritte zur Lösung

Translate the problem into an equation:

A = 89000 e^{0.031 \cdot 15}

89000 e^{0.031 \cdot 15} = 141689.26281 \dots

Round to the nearest hundredth:

141689.26

Amount : 141689.26

Beliebte Beispiele

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