Beliebt >

Parker invested 7,800 in an account paying an interest rate of 1.7% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 11 years?

Lösung

Parker invested 7, 800 in an account paying an interest rate of 1.7% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 11 years?

Lösung

Amount : 9403.89

Schritte zur Lösung

Translate the problem into an equation:

A = 7800 e^{0.017 \cdot 11}

7800 e^{0.017 \cdot 11} = 9403.89282 \dots

Round to the nearest hundredth:

9403.89

Amount : 9403.89

Beliebte Beispiele

the quotient of ten more than the cube of a number and the number one third of a number is 8 less than the three of the number Eva invests 8100 in a new savings account which earns 4.5% annual interest, compounded semi-annually. What will be the value of her investment after 2 years? Round to the nearest cent.three less than four multiplied by a number Harper invested 72,000 in an account paying an interest rate of 2% compounded monthly. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach 82,600?