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Popolare Word Problems >

Suppose an investment earns 3.5% interest compounded continuously. Find the future value of a 4600 investment after 22 years. Round your answer to the nearest cent, if necessary.

Soluzione

S u pp ose an in v es t m e n t e a r n s 3.5% in t eres t 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 f u t u re v a l u e o f a 4600 in v es t m e n t a f t er 22 ye a rs . R o u n d yo u r an s w er t o t h e n e a res t ce n t, i f n ecess a ry .

Soluzione

Amount : 9934.92

Fasi della soluzione

Translate the problem into an equation:

A = 4600 e^{0.035 \cdot 22}

4600 e^{0.035 \cdot 22} = 9934.92476 \dots

Arrotondare all' hundredth più vicino:

9934.92

Amount : 9934.92

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