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شائع Word Problems >

Samantha invested 67,000 in an account paying an interest rate of 3.9% compounded continuously. Assuming no deposits or withdrawals are made, how much money, to the nearest dollar, would be in the account after 7 years?

الحلّ

S aman t ha in v es t e d 67, 000 in an a cco u n t p a y in g an in t eres t r a t e o f 3.9% co m p o u n d e d co n t in u o u s l y . A ss u min g n o d e p os i t s or w i t h d r a w a l s a re ma d e, h o w m u c h m o n ey, t o t h e n e a res t d o ll a r, w o u l d b e in t h e a cco u n t a f t er 7 ye a rs ?

الحلّ

Amount : 88031.32

خطوات الحلّ

Translate the problem into an equation:

A = 67000 e^{0.039 \cdot 7}

67000 e^{0.039 \cdot 7} = 88031.31640 \dots

Round to the nearest hundredth:

88031.32

Amount : 88031.32

أمثلة شائعة

Julia invested 17,000 in an account paying an interest rate of 2.4% compounded daily. Assuming no deposits or withdrawals are made, how long would it take, to the nearest tenth of a year, for the value of the account to reach 21,400?A person invests 4500 dollars in a bank. The bank pays 7% interest compounded annually. To the nearest tenth of a year, how long must the person leave the money in the bank until it reaches 14900 dollars?if thrice a number increased by 11,the result is 35.What is the number 0.5% of what number is 12 Bilquis is going to invest in an account paying an interest rate of 5.6% compounded continuously. How much would Bilquis need to invest, to the nearest dollar, for the value of the account to reach 84,000 in 19 years?