en

English

Español

Português

Français

Deutsch

Italiano

Русский

中文(简体)

한국어

日本語

Tiếng Việt

עברית

العربية

Popular >

You deposit 3000 in an account earning 3% interest compounded continuously. How much will you have in the account in 10 years?

Solution

You deposit 3000 in an account earning 3% interest compounded continuously. How much will you have in the account in 10 years?

Solution

Amount : 4049.58

Solution steps

Translate the problem into an equation:

A = 3000 e^{0.03 \cdot 10}

3000 e^{0.03 \cdot 10} = 4049.57642 \dots

Round to the nearest hundredth:

4049.58

Amount : 4049.58

Popular Examples

Lauren's age is half of Joe's age. Emma is four years older than Joe. The sum of Lauren, Emma, and Joe's age is 534. How old is Joe?9 years from now Paul will be twice as old as Mary.The current sum of the ages of Paul and Mary is 36.How old is Mary right now?How many years will it take a 4200 investment to grow to 11800 if it is invested at 7.2%/a compounded semi monthly?The square of a number, x , is 16 less than eight times the number.Darnel puts 700.00 into an account to use for school expenses. The account earns 2% interest, compounded continuously. How much will be in the account after 7 years?