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Popolare Word Problems >

you invest 4000 dollars in an account to save for college. It pays 4.5% annual interest compounded continuously. what would be the balance in the account after 2 years

Soluzione

yo u in v es t 4000 d o ll a rs in an a cco u n t t o s a v e f or co ll e g e . I t p a ys 4.5% ann u a l in t eres t co m p o u n d e d co n t in u o u s l y . w ha t w o u l d b e t h e ba l an ce in t h e a cco u n t a f t er 2 ye a rs

Soluzione

Amount : 4376.7

Fasi della soluzione

Translate the problem into an equation:

A = 4000 e^{0.045 \cdot 2}

4000 e^{0.045 \cdot 2} = 4376.69713 \dots

Arrotondare all' hundredth più vicino:

4376.7

Amount : 4376.7

Esempi popolari

65. An account with an initial deposit of $6,500 earns 7.25% annual interest, compounded continuously. How much will the account be worth after 20 years?Mason earned 1,000.00 from a summer job and put it in a savings account that earns 13% interest compounded monthly. When Mason started college, he had 3,094.00 in the account which he used to pay for tuition. How long was the money in the account?Round your answer to the nearest month.the sum of two consecutive integers is 63 Two less than seven times the sum of a number and five is 40 If the sum of two consecutive odd integers is 96, find the integers.