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Popolare Word Problems >

Malik deposits 5000 in an account that pays 3.9% interest compounded continuously. What will be the value of the account in 8 years?

Soluzione

M a l ik d e p os i t s 5000 in an a cco u n t t ha t p a ys 3.9% in t eres t co m p o u n d e d co n t in u o u s l y . Wha t w i ll b e t h e v a l u e o f t h e a cco u n t in 8 ye a rs ?

Soluzione

Amount : 6830.77

Fasi della soluzione

Translate the problem into an equation:

A = 5000 e^{0.039 \cdot 8}

5000 e^{0.039 \cdot 8} = 6830.77346 \dots

Arrotondare all' hundredth più vicino:

6830.77

Amount : 6830.77

Esempi popolari

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