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شائع Word Problems >

If 3500 is invested at an interest rate of 8.25% per year, compounded continuously, find the value of the investment after 2 years

الحلّ

I f 3500 i s in v es t e d a t an in t eres t r a t e o f 8.25% p er ye a r, co m p o u n d e d co n t in u o u s l y, f in d t h e v a l u e o f t h e in v es t m e n t a f t er 2 ye a rs

الحلّ

Amount : 4127.88

خطوات الحلّ

Translate the problem into an equation:

A = 3500 e^{0.0825 \cdot 2}

3500 e^{0.0825 \cdot 2} = 4127.87591 \dots

Round to the nearest hundredth:

4127.88

Amount : 4127.88

أمثلة شائعة

Jenny opened a savings account and deposited 1,016.00 as principal. The account earns 8.61% interest, compounded quarterly. What is the balance after 10 years?Andy has 1,000 in an account. The interest rate is 15% compounded annually.To the nearest cent, how much will he have in 2 years?The sum of 20 and twice a number is-18 The greater of two consecutive integers is 7 greater than twice the smaller. Find the integers.Which of the following does 15 of 0.03 percent equal?