Camila invested 9100 in an account paying an interest rate of 4.6% compounded continuously. Assuming no deposits or withdrawals are made, how much money would be in the account after 14 years

Solution

Solution

Amount : 17327.15

Solution steps

Translate the problem into an equation:

A = 9100 e^{0.046 \cdot 14}

9100 e^{0.046 \cdot 14} = 17327.14615 \dots

Round to the nearest hundredth:

17327.15

Amount : 17327.15

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